If you’re anything like me, you trust the facts and statistics over the hype, and you likely know that the Australian property market is on the upswing. Despite the negative news coverage, our property market has entered a new cycle.
As a property investor, you might be wondering what the next steps are in this new phase. To help you, here are three fascinating facts about the current state of the Australian property market:
Fascinating Fact #1:
You might have come across the staggering statistic that the total value of Australia’s 10.9 million residential properties is $9.6 trillion. But what does a trillion really look like?
Well, let’s break it down like this:
– 1 million seconds = 2 weeks
– 1 billion (1,000 million) seconds = 32 years
– 1 trillion (1,000 billion) seconds = 32,000 years!
That’s a pretty incredible figure, isn’t it? Plus, it’s important to note that the total outstanding mortgage debt for Australia’s housing market is only $2.2 trillion. With a total loan-to-value ratio of around 23%, this debt isn’t as alarming as some might think.
Fascinating Fact #2:
The Australian Bureau of Statistics reports that Australia’s population reached 26.5 million people in May. However, by the end of June, they revised their estimate to include an additional 100,000 people! This rapid population increase is primarily driven by immigration, and it’s expected to continue for quite some time.
The influx of new residents coincides with a shortage of available housing. This combination creates a solid foundation for property demand and economic growth, as new households contribute to both the housing market and the broader economy.
Fascinating Fact #3:
According to research, property prices increased for five consecutive months leading up to June. So, if you were waiting for the market to hit rock bottom, it appears you may have missed that window.
Now, you might be wondering, how do you invest during this fascinating stage of the property cycle? To navigate this ever-changing landscape, consider seeking professional advice tailored to your unique situation and goals.
Turning to a team of experts, such as the multi-award-winning group at Metropole, can provide you with the direction, guidance, and results you’re looking for. Whether you’re a beginner or an experienced investor, an advisor with a holistic approach to wealth creation is invaluable during these times.
Property Principles offers a range of services geared toward helping clients grow, protect, and pass on their wealth. From strategic property advice and custom property plans to buyer’s agency representation, wealth advisory services, and property management, the team at Property Principles has the knowledge and experience to make your property dreams a reality.
In summary, the Australian property market is entering an exciting new phase, and keeping these fascinating facts in mind can help you make the best investment decisions possible. With the right guidance, you’ll be able to capitalize on the opportunities this growing market presents and potentially secure a prosperous future in property investment.
