In this Australian Property Podcast episode, your hosts Pete Wargent from Allen Wargent Property Buyers and Chris Bates from Alcove mortgage specialists talk you through all the latest property market news.
Topics covered today:
In this week’s episode, Chris and Pete cover:
1 – Property investors guide to the election
2 – Average wealth passes $1.5m per household
3 – Population growth returns to capital cities
1 – Investors guide to the election
– ALP: Help to Buy scheme expanded, and Build to Rent
– Coalition: Super for housing, fuel excise cut, and 25% cut to immigration
– Lending assessment buffer would be cut to 2.5%
– Also cuts to public sector jobs and size if Coalition wins
– Not much new for supply measures – just relying on the cycle to pick up generally
– Both sides of politics stimulating with demand-side measures
– Historically, elections haven’t made that much difference (CoreLogic report)
– Maybe unit prices rose a bit more when ALP won – unions and FHOG
– Stock markets are under pressure – it seems this time around Trump is bullish for bonds, and bearish for stocks (opposite of 2016)?
2 – Average wealth passes $1.5 per household
– Average household wealth is $618,000 per person
– Equates to $1.5m per household
– Yes some disparity
– Partly speaks to the success of the superannuation system
– Aus aggregate wealth is huge at $17 trillion…HUGE
– What comes next?
3 – Population growth reverse to capital cities?
– After pandemic ‘race for space’, cap cities now attractive bulk of population growth
– ATH +520,900 in FY2023, Australia’s cap city pop grew by +427,800 in FY2024.
– Return to office is a driver, some COVID refugees returning to the city
– Population growth across regional Australia was +113,800 or +1.3%
– Biggest Melbourne (+142,600) & Sydney (+107,500)
– Brisbane & Perth recorded extremely fast population growth of +2.7% & +3.1%
– What next? Impacts for property?
– DIY investing
