Economic updates

Only 55 per cent of Millennials aged between 25-39 own their home whereas at the same age, 70 per cent of the Baby Boomers owned their own home in 1991 and 65 per cent of Gen X owned their own home in 2006.

Gallup’s World Happiness report for 2024 was recently released.

The latest population projections from the Australian Bureau of Statistics (ABS) have just been released

The number of single people purchasing homes is falling but becoming more evenly matched by gender.

Perth prices remain the strongest in the country with prices now having risen by just over 20 per cent over the past 12 months. The city is also leading the way for apartment price growth.

Standard investment advice is to always buy a house instead of an apartment if you can afford to do so.

While today was a hold, speculation continues to build as to when the Reserve Bank of Australia will cut rates.

It has been a strong start to 2024 for Australian housing markets with house prices up already 2.2 per cent.

Farmland values doubled in the three years to June 2023, however with more mixed agricultural conditions in 2024, it is unlikely we will see such stellar growth this year.

Price growth continues across all of Australia in February with Perth now recording 17.5 per cent growth over the past 12 months

Private investors (“mum and dad” investors) provide most rental properties in Australia.

Time on market is plunging in Perth. The average time on market is now just 11 days.