Can Australians Still Find High Performing Investment Properties in 2024? Charting a Course for Success in 2024

Welcome back to the ever-evolving world of real estate for yet another year. Where the past, present, and future intersect to shape our investment opportunities.

As we navigate the currents of the Australian property market in search of high performing investment properties to add to our portfolios, it’s essential to reflect on the journey so far and look ahead to what 2024 and beyond holds for the Australian property market.

As most of us know by now, property investment is a marathon, not a sprint.

The cyclical nature of property markets can be both thrilling and challenging, but as the saying goes, “Time in the market > Timing the market”.

While some may lament not getting into real estate 20 years ago, the truth is…

in most cases, the second-best time to invest is today.

 

With that being said, it is fascinating to see how property prices have soared over the last 50 years.

When my family first moved to Australia in 1974, my parents purchased our family home for under $30,000 in Brisbane!

Then, 10 years after that, I purchased my first home for under $50,000!

Compare that with the pricing of houses these days, and it’s a vastly different story.

According to housing data from CoreLogic, median house values at the end of December 2023 were:

  • Sydney — $1,128,322
  • Canberra — $843,171
  • Brisbane — $787,217
  • Melbourne — $780,457
  • Adelaide — $711,604
  • Perth — $660,754
  • Hobart — $656,947
  • Darwin — $496,309

 

And while many of us look at the state of house prices today and wish that we could go back in time,

the truth is, that may not be a bad idea…

Obviously, being able to travel back in time to secure one of these $30,000 properties may prove a little difficult with today’s technology,

But, looking back and learning from markets gone by, is most definitely something all property investors should be doing.

 

Now, in January 2024, we stand at the crossroads of a new property cycle where the landscape is shaped by various factors.

The cyclical slump of 2022 is now behind us, with property prices regaining lost ground in 2023.

However, the dynamics have shifted.

While historical drivers like population growth, national wealth, and falling interest rates have fuelled property growth for the last few decades…

we now face new challenges.

Inflation, higher interest rates, stagnant wage growth, and stricter lending conditions are all economic headwinds that demand careful consideration.

But, with these challenges comes factors that will drive to increase prices even further.

And for astute investors eyeing High Performing Investment Properties, 2024 holds promise.

Factors such as surging migration, limited new construction, a robust Australian economy, government spending initiatives, and low stock levels, all work to support property values.

This strategic convergence presents a unique window of opportunity for those looking to amplify their wealth position.

And fear of missing out (FOMO) is already palpable in some markets, propelling property values even higher.

 

For prospective investors, the time is ripe to capitalise on the potential for continued growth throughout 2024.

But, inevitably, with this new wave of buyers scrambling to secure their piece of the pie, some are bound to make mistakes.

Either, they will pay too much for an otherwise good property or they will be sold by clever marketing and a not so good property.

As far as I’m concerned, the only way to secure a solid investment in this environment is to carefully plan out your strategies and to have a clear understanding of your goals.

 

The property market, which is worth over seven trillion dollars today, offers a piece of the pie to those who get it right.

And remember, property doesn’t discriminate – it doesn’t care who owns it.

The key is to formulate a plan aligned with your end goals and navigate the evolving landscape with confidence.

In conclusion, the property market remains a dynamic and lucrative avenue for wealth creation.

With strategic planning and a keen eye on what creates High Performing Investment Properties (Click here to Download our FREE 15 Point Property Assessment Guide), you can secure your share of the ever-expanding residential property market.

The journey ahead may bring challenges, but for those who navigate wisely, the rewards are boundless.

As the saying goes, “If you get it right, you can have your share.”

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