January 2025 Property Update

Welcome to our January property update.

In December we saw Australian home values fall by .01%, the first monthly decline in almost two years.

Nationally house prices increased by 4.9% in 2024. Perth had the largest increase at 19.1% followed by Adelaide at 13.1% and Brisbane at 11.2%. Sydney increased by 2.3% and Melbourne fell by 3% for the year.

Regional house price growth grew faster than capital cities in 2024.

We have seen larger numbers of buyers out at open homes, so buyers appear to be more optimistic about 2025, than they were at the end of 2024.

This week inflation figures for the December quarter were released which saw it fall more than expected by the financial markets and the RBA to 3.2%. The RBA range for the trimmed mean is 2-3%, so whilst its slightly above, Financial Markets predict an 80% chance the RBA will reduce interest rates at February’s meeting.

I believe a drop in interest rates will accelerate property price growth as buyers will have a higher borrowing capacity, in addition to some relief for mortgage holders.

Additionally with a Federal election occurring this year, many buyers are keen to buy prior to the election.

At the start of a new year we always get an increase in enquiries from people looking to start a property portfolio or further grow their portfolio, so if you are considering buying a property in 2025 please click on this link to book a property strategy meeting to determine how we can best assist.

Booking Link: https://portersbuyersagency.zohobookings.com/#/portersinvestinitialcall