Property review for 2018
We have some holiday reading for you, this month we have updated research reports for Melbourne, Canberra, Geelong and Cairns. Links to each report and our property clock are below. As always, if you have any questions in regards to these, or any region in Australia please contact me.
According to the latest ABS figures released earlier this week, Victoria has recorded its highest ever levels of Net Overseas Migration (NOM). Although we’re seeing these strong population growth figures and favourable economic factors for Melbourne, affordability is a concern.
The indicators reflect there are both positives and negatives for the Canberra property market. Unemployment is the lowest it’s been since 2008 at 3.3% and although the population growth rate is 1.7%, which is above the national rate, the dominant form of this growth has been natural increase (births) between 2010 to 2016. Half way through its growth cycle, there are other markets that demonstrate better value.
The Geelong market continues its upward movement through this growth cycle. Do we still see value in this market? To find out click through to the report.
The Cairns property market is definitely showing value and with unemployment at 5.9%, down from a high of 8.6% in 2016, this is a market to watch.
If you have any questions in relation to these research reports or any other region in Australia, please feel free to contact me at any time.Posted on December 22, 2017