CoreLogic’s National Home Value Index (HVI) inched up by just 0.1% in November, marking the weakest nationwide result since January 2023. Although this represents 22 consecutive months of growth, the current cycle may be nearing its end.

“The slowdown is becoming evident in Melbourne and Sydney,” said Tim Lawless, CoreLogic’s Research Director. “Even the mid-sized capitals, which have driven recent growth, are starting to lose momentum.”

In Melbourne, housing values have declined in ten of the last twelve months, with a monthly drop of -0.4% in November, bringing the annual decrease to -2.3%. In Sydney, housing values plateaued in September after peaking in August, then fell by -0.2% in both October and November.

Quarterly figures reveal that four of the eight capitals are now experiencing declines in values, with Melbourne leading the trend (-1.0%), followed by Darwin (-0.7%), Sydney (-0.5%), and Canberra (-0.3%).

“The mid-sized capitals and many regional markets continue to provide some support to the national index, but it’s clear their momentum is also waning,” added Mr. Lawless.

Perth remains the nation’s frontrunner for capital growth, with values rising 1.1% in November and 3.0% over the past three months. However, this marks its slowest quarterly growth since April 2023 and reflects less than half the rate of the June quarter’s 6.7% increase.

CoreLogic’s latest data shows that the rental market is also experiencing a slowdown. The national rental index edged up by just 0.2% in November, with rents rising 5.3% over the past year—the slowest annual increase since April 2021. A year ago, rental growth stood at 8.1% annually and had exceeded 9% over the prior two years.

“At 5.3% annual growth, rents are still climbing at more than double the pre-pandemic decade average of 2.0%, but with such weak monthly increases, the annual trend is likely to decelerate further,” noted Mr. Lawless. “The first quarter of 2025, which is seasonally strong for the rental market, will reveal whether growth rebounds, but it appears increasingly clear that the rental boom is coming to an end.”

Perth continues to lead in rental growth among the capitals, with unit rents surging by 9.7% annually, although this is a significant slowdown from the peak of 16.6% recorded in late 2023 and early 2024. Perth also leads in house rental growth, with an 8.7% increase over the past year.

Despite Perth’s leading position in both property value and rental growth, the broader market slowdown is evident, with weaker growth across other capitals and regions. This suggests the national property market, including both sales and rentals, is transitioning into a new phase of subdued momentum.

Stay ahead of market trends—explore CoreLogic’s full report for the latest insights on housing and rental growth.

Data extracted in January 2025

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This article is contributed by Lily Chong, Country Head of IQI Australia

Western Australia has officially claimed the top spot in economic performance nationwide, according to the latest CommSec State of the States report. This marks WA’s first top ranking since 2014, bolstered by strong indicators in retail spending, low unemployment, and record-setting population growth, which helped WA surpass all other states.

WA Premier Roger Cook highlighted that the state’s economic strength is a key driver of national prosperity. Currently, WA is experiencing a 3.11% annual population growth, which has contributed to a 10.5% increase in retail spending in the June quarter of 2024. The population milestone of reaching 3 million people has also spurred a rise in car sales, which are up 25% compared to the decade average. However, this growth spurt has come with its challenges: inflation in Perth is the highest in the nation at 4.6%, and the building sector remains under-resourced, putting pressure on new housing developments.

Despite these challenges, WA’s economic outlook remains promising. Future performance is expected to stay strong, though rising costs and market demands may influence the state’s ability to maintain this momentum.

Property Market Set for Record Growth

Perth’s property market is equally impressive, with forecasts from the Real Estate Institute of WA (REIWA) predicting a 25% growth in house prices and a 20% rise in unit prices by the end of 2024. This could push the median house price to $750,000 and units to above $500,000 by year-end. As of September, the median house price had reached $707,000—a 17.8% increase since December 2023—and median unit prices had hit a record $470,000.

REIWA CEO Cath Hart attributes this surge to continued population growth and limited housing stock. Although home build times have improved, housing completions remain low, keeping demand strong and exerting upward pressure on prices. While factors like interest rates and upcoming elections could moderate growth, conditions remain favorable for the market’s continued upward trend.

Perth Rental Market Eases Amid Higher Prices

Perth’s rental market shows signs of moderation, with median rent prices for houses and dwellings remaining stable at $650 per week, while unit rents have risen to $640. Vacancy rates, which increased from a low of 0.4% in March to 1.6% in September, indicate a gradual easing of rental pressures. According to Hart, further rental increases are likely to be modest as the market approaches an affordability ceiling and additional supply enters the market.

Stay ahead of the curve—explore more insights on Western Australia’s thriving economy and property market. Subscribe now for the latest updates!

Data extracted in December 2024

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This article is contributed by Lily Chong, Head of IQI Australia, who brings nearly 13 years of real estate expertise and a commitment to uplifting professionals globally.

In September, Australia’s dwelling values experienced a modest increase of 0.4%, similar to the 0.3% growth in July and August, signaling a continued slowing of momentum. Nationally, housing values rose by 1.0% in the September quarter, marking the smallest quarterly rise in the Home Value Index (HVI) since March 2023, when the market first began its current upward trend.

Interestingly, four capital cities saw a decline in dwelling values during this period. Melbourne led with a 1.1% drop, followed by Canberra, Hobart, and Darwin. In contrast, Perth experienced the highest growth at 4.7%. Sydney maintained positive growth, but its 0.5% rise in the September quarter was the slowest since February 2023.

Meanwhile, mid-sized capitals, which had been leading in capital gains, are also starting to slow. Adelaide’s growth appears to be plateauing at 4.0%, while Brisbane recorded its lowest quarterly rise (2.7%) since April 2022. Perth’s property market Spring selling season has kicked off with a notable increase in active listings, rising by 8.4% in September and reaching 3,952 by month-end.

According to REIWA CEO Cath Hart, the Spring season has brought a boost in new listings, as anticipated. “Spring is traditionally one of the busiest times for sales, and our members are seeing more properties come to market, with new listings outpacing sales over the past month,” she shared.

Despite this increase in listings, properties are still selling quickly, keeping active listings relatively low. Compared to this time last year, active listings are down 19.0%, though this represents a marked improvement. Between November 2023 and May 2024, listing volumes were 40% lower year-on-year, with every month since May still showing a 30% decline compared to the previous year.

These trends highlight the continued strength of the Perth market despite low stock availability.

Data extracted in September 2024

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It has been revealed that Chinese nationals are currently the primary investors in the Australian residential market and have chosen it as their top destination to invest their money.

The Australian Treasury’s foreign investment report for Q4 2022 shows that a total of $20.7 billion was invested in the real estate sector, with the majority of the investment, $19.3 billion, directed towards the commercial market. Meanwhile, only $1.4 billion was invested in residential real estate during the same period.

There was a decrease in the overall volume of proposals and the total value of investments in the residential sector between the September and December quarters of the previous year. In the second-to-last quarter, 1,972 proposals worth $2.9 billion were received, while in the final quarter of 2022, only 1,224 proposals with a value of $1.4 billion were lodged.

China has maintained its position as the leading foreign investor in the Australian residential market over the past two financial years (2020-21 and 2021-22), with investment proposals from China valued at $600 million for the quarter. Hong Kong and Vietnam followed with proposals worth $100 million each.

Chinese investors’ interest in Australian property is so high that Daniel Ho, the co-founder and group managing director at Juwai IQI, has stated that “Australia is the most popular country for Chinese home buyers” for the first time ever.

Although there was a decrease in the investment rate between the September and December quarters last year, Chinese buyer inquiries for Australian real estate increased by 24% in the final month of 2022. Mr. Ho explained that this rise was due to announcing the reopening of borders.

Mr. Ho stated that based on current investment rates, China could invest an estimated $3.2 billion into the Australian residential real estate market this year. This would significantly increase from the $2.4 billion invested in the 2021-22 financial year.

Expanding on this point, Fiona Yang, the executive partner at Plus Agency, a project marketing agency with offices in Chatswood and Shanghai, mentioned that her network had seen a significant increase in Chinese buyers. According to her, there are now five times more Chinese buyers than before, and they are hurrying to make purchases.

Ms. Yang observed that during the first two months of 2022, 15% of her office’s walk-in buyers were from overseas. However, this figure has increased dramatically and now stands at 75%.

Ms. Yang stated that such buyers are showing a solid commitment to Australia, mainly since the pandemic-related uncertainty is over, the borders are now open, and rents are rising. These buyers are tired of three years of lockdown.

She believes one of the driving trends behind the increased investment demand is the decision of satellite families to stop dividing their time between countries and instead move to Australia permanently.

Ms. Yang explained that most families are eager to purchase their own homes as soon as possible due to the high rental rates.

However, the guidelines from the Foreign Investment Review Board (FIRB) currently in place and the fact that many prospective buyers have resided in China for the past three years prevent them from purchasing existing dwellings. They are only allowed to buy new homes.

Read more: Real Estate Business

Considering the current statistics and market conditions, now are the ideal time to purchase a property in Australia. Look no further than IQI Australia, your premier real estate agency for top-notch service and exceptional agents.

The post China Tops as Largest Foreign Buyer of Australian Homes appeared first on IQI Blog.

She believes and shares four key principles for successful project marketing: project choice, buyer pipeline, buyer education, and buyer support.

From her perspective, such practices are vital when navigating through uncertainty in the building industry — something she believes is one of the greatest threats currently challenging real estate agents.

Read more: Real Estate Business

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Australia is made up of fascinating advantages in terms of climate, education, food safety and lifestyle, which attracts many people from all over the world to study, work, buy houses and migrate to the country. The number of immigrants in Australia is rising every year.

The Australian Bureau of Statistics released overseas migration data showing that the number of immigrants dropped to 146,000 in the year 2020-21 from 507,000 due to the pandemic.

According to the numbers, most Australian immigrants come from China. There are so many Chinese immigrants, but in which areas are they most populated?

Gold Coast AN attractive LOCATION FOR CHINESE IMMIGRANTS

According to the local property website realestate.com.au, the most searched Australian areas by Chinese buyers are the Melbourne suburbs of Glen Waverley, Gold Coast, Brisbane, downtown Melbourne and the Melbourne suburbs of Toorak.

Aside from Melbourne, Gold Coast is the one of the most attractive areas for Chinese migrants – a location that’s sunny all year round, with great weather, beautiful beaches, stunning nature and perfect for vacation, making it one of the best locations to live and retire.

1. Slow-paced and colourful life

Gold Coast is a well-known vacation destination, which is why it has a slow-paced lifestyle, known to be naturally suitable for retirement.

There are a variety of outdoor activities, such as golfing, yacht sailing, safari, theme parks, and a variety of restaurants and cafes. For shopping, the Gold Coast also has an spacious local shopping mall called Pacific Fair.

With this kind of relaxing life at their disposal, those looking for a break from the hustle and bustle of the big city life would turn to Gold Coast as a location to migrate, retire or study.

2. Well-equipped healthcare facilities

Whether you’re coming to the Gold Coast to migrate, study or retire, a hospital or medical center remains a necessity for everyone.

The Gold Coast University Hospital (GCUH) is the third largest hospital in Queensland and has one of the busiest emergency departments. It was also voted one of the “10 best hospitals in Australia” by Statista, a global data research company.

Other hospitals or medical centers include the Robina Hospital, Varsity Lakes Day Hospital, Southport Health Precinct and more. Medical facilities are conveniently available within reach, making it easy for anyone to access medical treatment when they need it.

3. First-class education hub

Although Gold Coast is a vacation destination, it is also home to many educational institutions. As an Australian city, the quality of education and training resources are known to attract many international students to study here.

Gold Coast topped the QS World University Rankings as the “World’s Best Beachside City to Study in” in 2016. Over 200 international and domestic education and training institutions, including Griffith University, Bond University, and Southern Cross University, have ranked in QS World University Rankings 2023.

Local primary and secondary schools also have high educational quality and academic standards, as reflected in their performance on The National Assessment Program – Literacy and Numeracy (NAPLAN) exams in 2021.

According to the latest NAPLAN results, the top 5 performing elementary schools on the Gold Coast are The Southport School (TSS), Somerset College, AB Paterson College, St Hilda’s School, and Broadbeach State School.

The top performing secondary schools in the NAPLAN are Somerset College, All Saints Anglican School, AB Paterson College, Emmanuel College, and St Hilda’s School.

In addition to the general environment of education and the development of schools in Australia, the Gold Coast government also places importance on the development of student organizations and international education concepts. The government has invested in student activity centers, medical and educational special zones, gradually becoming the preferred destination for international students.

4. Housing market growth due to expanding population

As more people move to the Gold Coast to work, study and live, coupled with affordable local housing, real estate experts predict that the local population will likely increase by 38,000 residents per year in the future, reaching an eventual 928,000 residents by 2041.

With such a steadily growing population, the demand for housing on the Gold Coast will continue to increase. According to the Australian Institute of Urban Development, although the Gold Coast has a denser housing layout than Brisbane and Adelaide, the current development appears to be in short supply given the local population growth trends.

According to PRD Real Estate Australia, from September 2021 to March 2022, the median house price in Gold Coast grew by 21.8%, while the median unit price grew by 9.1%.

As for rentals, the median house rent rose to $720 AUD per week; 3-bedroom houses recorded the highest annual rental growth rate of 18.2% to $650 AUD per week. 3-bedroom units recorded a yearly rental growth rate of 20% to $600 AUD.

If you are planning to invest in a property on the Gold Coast, you may want to consider houses or apartment units with more bedrooms.

Combined with the various local developments, the Gold Coast is a good location for investment, retirement and study.

With various advantages over other popular cities in Australia, Gold Coast is the ideal place to live if you wish to live a relaxed and tranquil life. The Gold Coast may be your dream destination!

To learn more about life and property on the Gold Coast, IQI Australia can help you! They have a wealth of experience in investing, buying and selling houses to help you find your dream home!

The post Experts: Gold Coast A Favourite Among Chinese Immigrants! appeared first on IQI Blog.

Any support and assistance from our Government is always a bonus.

We Australians are very blessed to have a government that is innovative and always finding solutions to help the people it serves – especially for our younger generation and first homebuyers.

Despite all good intentions however, I think it is crucial to select the right applicants.

Otherwise, we will probably do more harm than good when helping those who are not yet ready for a long-term loan commitment.

By simply owning a home with a small deposit, we may even be risking taxpayer money if those first home buyers default on their loans.

To make property ownership more achievable, I think we do need to educate our younger generation to be more open minded and flexible.

From saving plans, managing their finance, to only spending within their means, all these vital lessons are not incorporated into our education system – but are so important for the younger generation to learn.

Also, we all need to accept that the home ownership dream will not always be a huge home with a backyard. We need to forget about the big backyard as our population is growing, unless we choose to live far from amenities.

We need to encourage infill area by changing the zoning size with smaller houses, or more apartment living, by providing practical benefits like cheaper stamp duty as well as lower council rates.

We must make this kind of living more affordable, not just for the younger generation, but also for retirees and downsizers, so that they don’t need to pay high yearly expenses to enjoy apartment living.

Apartment living must be made an attractive option, instead of the last option.

When more people consider apartment living and support our government in fulfilling this vision, we can reduce urban sprawl.

This also means less money needs to be spent on continuing to extend freeway and train services or building amenities to support such small populations.

For me personally, urban sprawl isn’t practical given public transport is empty most of the time as commuters prefer driving.

As a real estate agent, I strongly believe people who invest or purchase apartments have contributed to the community by creating jobs.

Quality surveyors, builder, electrician, drafter, town planner, architecture, brick layer, suppliers for building materials, the transport industry, real estate agent, banker, broker, settlement agents etc.

The fact still remains, new and continuing developments create jobs and keeps Western Australia’s economy moving.

Read more: Wamn News

The post Lily Chong Column: How to help our next generation own their homes appeared first on IQI Blog.

When it comes to Australia, cities like Sydney, Melbourne, Victoria, and Perth tend to come to mind. Perth, in particular, being the capital of Western Australia, is listed in the top ten list of the world’s most liveable cities. In fact, some are so familiar with the city to the point where it gets mistaken as the capital of Australia!

Perth’s relaxed pace of life, warm and friendly atmosphere, natural and culturally rich environment, solid economic prospects, top-notch education standards and unparalleled medical services are just some of the many factors that have propelled Perth into becoming one of the top ten most liveable cities in the world.

Albeit quaint, West Perth shouldn’t be underestimated – it is one of the best places to live or invest in. Read on to discover what gives Perth its hidden edge!

The rich natural environment of Australia’s Plant Kingdom

West Perth is a small but well-equipped area, accounting for only 10% of the entire Perth Central Business District (20 square kilometers). So how exactly did it earn the title of plant kingdom? The most attractive part of Perth is its natural environment, coupled with the pleasant Mediterranean climate which is very suitable for the growth of plants – more than 6,800 kinds of plants can be found here.

Perth is home to a number of beautiful botanical gardens and parks. The famous Kings Park and Botanic Garden houses a 400.6-hectare park, with two thirds of it being natural virgin woodland, planted amongst 2,000-year-old trees, dense wildflowers and native jungles, earning its position as the central green space in Perth.

With a botanical park of this scale in a small area that is no different from a forest park, Perth is truly a hidden gem waiting to be appreciated. Take a walk in the park, have a picnic, and bask in the sun in the lovely green city of West Perth and enjoy the breeze of fresh, clean air!

Upcoming redevelopment plans 

As a result of the COVID-19 outbreak, Perth has become an ideal place to live for many Australians overnight, and even keyword searches for Western Australia soared by 91 per cent at the beginning of the year. West Perth has naturally benefited from this, welcoming more and more people to live in the area.

Australia’s largest supermarket chain Woolworths sees opportunities for future growth in West Perth as the number of people moving into West Perth continues to increase. Its development arm, Fabcot Pty Ltd, has submitted a development application to the capital city council Construction of a $26.5 million four-story plus basement complex in the old parking lot of Princess Margaret Hospital.

The supermarket plans to use about a quarter of the 14,078 square-metre floor area for supermarket development, while the remainder will be used for retail and hospitality leases, underground car parks, childcare centres and medical centres. Another high-profile redevelopment project in West Perth is the $227 million Subi East redevelopment project, of which the aforementioned supermarket scheme is part.

This redevelopment project will create jobs for the local area, while also creating multiple public areas for local residents, outdoor activities and housing for new residents.

Providing employment opportunities through education

Australia is famous for its high quality education, globally recognized for having the most advanced and innovative education and training system in the world, attracting a large number of international students yearly. As of 2019, the country has attracted 720,150 international students, showing an increase of 11% year-on-year.

Perth is home to the University of Western Australia, one of the five universities located in Perth, which is ranked 92nd in the QS World University Rankings 2021, and is a university sought after by international students. Other universities in Perth include Murdoch University, Curtin University of Technology, Edith Cowan University and University of Notre Dame. Students will normally move to Perth in order to have a seamless academic experience.

However, the Edith Cowan University campus, originally located in Mount Lawley will be relocated to the Perth CBD, in the west of Yagan Square. This is a major A$695 million project launched in the city centre by the City of Perth’s state and federal governments, and is the first comprehensive university campus in the heart of Perth.

When the university opens in 2025, it is expected to attract more than 9,200 students and staff from the faculties of Technology, Arts, Business, Law and Cybersecurity, and this number is expected to grow by more than 11,000 in 2034.

In addition, the project is expected to inject $150 million into the local economy, creating jobs for thousands of locals and more than 3,100 jobs during the construction of the university. This transformative project will bring a whole new face to the university and the city.

Optimistic investment potential for West Perth’s economic development

West Perth’s redevelopment plan, coupled with the move of Edith Cowan University into the city centre of Perth and the high concentration of higher education institutions, will inject more vitality into the area, stimulate the economy, and drive local real estate.

According to the latest economic assessment report by Moody’s, an internationally renowned rating agency, Western Australia will, by virtue of its favorable investment environment and effective economic stimulus measures, lead the important regions in Australia’s economic development in the next 2 to 3 years, and will also make Western Australia’s economic development more significant. Thus, if you are planning to invest in property in West Perth, you can expect a decent return on investment!

That sums up the undiscovered investment advantages of West Perth. If you plan to immigrate to Australia, consider purchasing a property in West Perth! Whether you’d like to invest in Australia as a pension plan, need a place to study or just as an investment to enjoy life – it is one of the best choices you can make.

Curious to invest in West Perth? Drop your inquiry below, and the Western Australian real estate experts at Juwai IQI will help you solve your Australian investment or immigration questions!

The post Move to West Perth, Australia! Discover West Perth’s hidden advantages appeared first on IQI Blog.

Hong Kong’s “peak exodus’ has led to an influx of Hong Kong citizens flooding real-estate markets across the UK, Canada, and Australia.

Besides, according to Knight Frank’s The Wealth Report 2022, the top three locations Hong Kongers are hoping to purchase homes are the UK, Canada, and Australia.

Derek Tse, business development manager of the real estate agency IQI Australia, told Insider his company had seen a 100% increase in inquiries from Hong Kongers looking to move over the past year.

According to Derek, IQI’s Juwai property portal has received 88 inquiries year-to-date. That’s the same number of inquiries IQI received from Hong Kongers in all of 2021. This figure excludes requests from social media, migration agents, and referral partners.

For the full story, read on: Business Insider

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Lily Chong is the Perth-based general manager of IQI WA and an REB Top 50 Agent in Western Australia. She shared her insight on how to succeed at real estate.

When people ask her what qualities have been most important to her success in the real estate industry, she tells them perseverance, innovation, and teamwork.

She thinks that these traits have helped her build IQI Australia from an upstart real estate agency into what she believes is Australia’s best team for marketing and selling new development property.

For the full story, read on: Real Estate Business

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