Property values doubled in the last seven years. Back in June 2014, the combined value of all the residential properties in Australia was valued at $5.1 trillion. That figure has now amassed to exceed the $10.0 trillion mark for the first time.
According to the latest data from the Australian Bureau of Statistics (ABS), as of March 2022, the combined value of all the residential properties in Australia was worth $10.2 trillion.
Australian’s have witness some compelling property price increases over the period and also longer term. There are no doubt economical and political circumstances that can influence prices to go up or down. In the last 7-10 years, there have been a number of factors that prevented prices to go up and also temporarily declining. Keeping a long term perspective on buying and holding can be a rewarding experience, should you buy in a good location.
Many Australians want to own their own home. According the ABS’s recent report “Housing Occupancy and Costs“, 66% of Australian households owned their own home with or without a mortgage. Property ownership has played a large part in people establishing their own financial independence and wealth.
What should I do?
Are you thinking about entering the market? Buy when you can afford and maintain a long term time frame. Employing some simple principles will delivery the returns you desire. Sensible and strategic planning will see you find some great investment value in the property market. Be mindful, not to absorb half a story from friends and family. Seeking professional advice will help source the right property for you.
If you are looking to buy a property (either to occupy or invest), please don’t hesitate to contact us. We can help source and negotiate a deal that’s right for you. We do not charge buyers a fee to help you purchase a property.
Our YouTube channel and Market Insights also provide a wealth of information to assist you with many areas relating to property.
While we have taken care to ensure the information above is true and correct at the time of publication, changes in circumstances and legislation after the displayed date may impact the accuracy of this article. If you want to learn more, please contact us. We welcome the opportunity to assist you.
July 2022
