Posted On : June 13, 2024

UBA's 2024 EOFY property round-up

If you are planning to buy your next home or make an investment in the next 6 months, the following market outlook will give you an advantage for your next purchase.

Here’s what we’ve observed in the market over the past year that will play a key role in future property purchases:

  1. Market Movement: Despite interest rates creeping up, the number of potential buyers has increased, leading to more competition and a hotter market.
  2. Stock Availability: Due to construction growth, there has been a significant gap between supply and demand, resulting in fewer property choices.
  3. Property Value: The median property value in April 2024 reached $920,000, and homes are selling off the market in just 19 days compared to 23 days this time last year.

Welcome to UBA's 2024 EOFY property round-up!

The combination of limited stock and unclear pricing parameters from agents has left many buyers feeling frustrated and uninformed. Surprisingly, the increase in interest rates did not deter potential buyers, creating a highly competitive market.

Despite these challenging buying conditions, our UBA team successfully purchased 162 properties this financial year. Of these properties, 71 were off-market. Our clients were a mix of 48% investors and 52% home occupiers, with 50% being locals, 44% interstate buyers, and 6% international.

The key takeaway: quick decisions and strategic planning are your best allies right now.
If you need professional assistance to secure your property at the right price, our team is ready to help! We are here to guide you through the competition, using our insights to help you make smart investment moves.

Despite the fierce competition, there are still valuable opportunities out there.