There is a lot of discussion at present around affordability, taxation treatment of residential assets and generational wealth gaps. Whilst there are some merits of truth to many of the arguments, sometimes you just can’t change the demographic profiles of society as it ages and the influences that have occurred, particularly post 1985 when the Australian Labor Party introduced the Capital Gains Tax and the current form of Negative Gearing in 1987.
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Young adults aged 20–34 represent the economic engine room of Australia. While accounting for just over one‑fifth of the population, this cohort contributes approximately one‑third of the nation’s total economic output.
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Brisbane’s premium apartment market continues to outperform having averaged 8.5% price growth per annum over the past decade. This has been achieved by those apartments facing the river, making them both highly desirable and very tightly held.
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Australia’s housing market is highly sensitive to monetary policy, in fact one of the most sensitive within all OECD countries. The Reserve Bank of Australia (RBA) adjusts the cash rate in response to economic data, and those decisions ripple quickly into mortgage costs, borrowing power, rents, and construction activity though are not specifically set around those parameters. In fact, they largely sit as byproducts to how the broader economy is performing, both domestically and internationally.
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For the first time ever, the average dwelling price in Australia has surpassed $1 million. Depending on whether your in the market or wanting to get into the market will depend on your perspective as to whether this is a good or a “throw your hands in the air” level of frustration moment.
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2024 remained a year of confusion for many, us included when it came to many of the economic indicators. Robust employment conditions but with poor household savings, low consumer confidence and generally weak retail conditions. Inflation remained stickier than we thought with Australia’s monetary policy lagging most of the advanced economies, many of which have now had multiple rate cuts.
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