FEAR & GREED | Business News Top property trends to watch this year
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Jan 6, 2025 Discover the key property trends shaping the market this year, including the potential effects of an upcoming federal election. Rising property prices in coastal regions like the Sunshine Coast are driven by migration and investment. Meanwhile, population growth in areas like Geelong presents challenges for first-time buyers in major cities. Get insights on trends anticipated for 2025, focusing on research and personalization in property choices, alongside the growing appeal of cozy living environments.
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Election Impact
- The upcoming federal election might impact the property market by creating distraction and fatigue.
- A change in government could bring excitement and new policies, similar to the "Trump bump" in the US.
Shifting Prestige Markets
- Areas like the Sunshine Coast and Gold Coast are becoming increasingly expensive due to factors like international investment and interstate migration.
- This shift is changing the traditional prestige property markets in Australia.
Population Growth and Affordability
- Population growth is driving up prices in regional areas like Geelong, Newcastle, and Wollongong, potentially making them million-dollar areas.
- Melbourne is attractive for newcomers due to its job market and lower property prices compared to Sydney.