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.
The impending federal election is likely to cause market uncertainty, leading potential buyers to hesitate and delay purchasing decisions.
First home buyers are shifting their expectations towards smaller apartments in desirable locations, driven by the challenges of affordability in the property market.
Deep dives
Impact of Election on Property Market
The upcoming federal election is expected to create uncertainty in the property market as potential buyers become distracted and hesitant to make decisions. This election-related fatigue may hold back transactions, even though it is a necessary part of democracy. Historical patterns suggest that a change in government can energize the market, prompting optimism about future prospects. The influence of significant political events, like the 'Trump bump' in the U.S., highlights how perceptions can shift in response to new governance and potential policy changes.
Trends Among First Home Buyers
First home buyers are increasingly adapting their expectations in the face of a challenging property market. Many are moving away from the traditional dream of a large block and opting for smaller apartments in preferred locations. This shift reflects a broader trend of compromise for accessibility amidst soaring prices; buying remains extremely challenging for new entrants. Expert advice stresses the importance of thorough research and planning, including maintaining detailed tracking of market trends and establishing long-term goals to navigate the current landscape successfully.
What do buyers, sellers and investors need to be know before jumping into the property market this year?
Alice Stolz, National Property Editor at Domain, goes through the top property trends to watch this year, including the likely impact of an impending federal election.
This is Fear & Greed's summer investing series. All information is general in nature - you should seek independent professional advice before making investment decisions.