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THE PROPERTY PENDULUM - 15 MARKETS SWINGING TO FIRST HOME BUYERS

THE PROPERTY PENDULUM - 15 MARKETS SWINGING TO FIRST HOME BUYERS

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The report 'THE PROPERTY PENDULUM - 15 MARKETS SWINGING TO FIRST HOME BUYERS' by Property Credit provides a detailed analysis of housing market trends across Australia, specifically targeting areas where conditions are improving for first home buyers. This analysis reviews over 300 markets, focusing on the availability and affordability of homes under $750,000, while monitoring shifts in the number of listings compared to historical averages.

A standout observation from the report is the pronounced increase in listings in several key markets, suggesting a shift towards more buyer-friendly conditions. For instance, the Latrobe Valley in Victoria shows a significant uptick in property listings, with today's count at 818 homes compared to the 12-month average of 650. This 26% increase in listings, with 667 homes priced under $750,000, indicates a growing market that might start tilting in favour of buyers if demand does not correspondingly increase.

Similarly, the Lower Hunter region in New South Wales demonstrates a substantial 71% increase in listings, from an average of 397 to 678 homes listed as of May 9th, 2024. Out of these, 302 homes are priced under $750,000, suggesting that despite higher overall prices, there are still considerable opportunities for first home buyers.

On the other end of the spectrum, some areas like Young - Yass, despite a 38% increase in listings, show a smaller pool of affordable homes, with only 93 properties under the $750,000 mark out of 230 listed. This highlights the variability in how different regions are responding to broader market pressures.

The report illustrates that while the overall market might seem challenging due to rising prices and competitive conditions, the increase in listings above the long-term average in specific areas suggests that market conditions could continue to evolve in favour of buyers, especially in regions like Latrobe Valley and Lower Hunter. These insights not only help identify where buyers might find better deals but also highlight the importance of tracking listing trends to gauge market dynamics effectively.

 

 

 

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