An Expert’s Guide On Navigating The Property Market In 2024

When it comes to real estate, figuring out what lies ahead can be a tricky business. The start of a new year often brings with it new property goals and planning for future transactions. 

If you’re thinking about selling or buying property in 2024, the key takeaway is to keep it simple and stick to what’s happening right now, rather than speculative forecasts. Don’t wait for an ideal moment that may never come or rush into things too quickly.

In a nutshell, if you're in the property market in 2024, keep it real, stay in the now, and leave the crystal ball at the door.

You can use historical data to give you insights, but real-time information is crucial. 

CoreLogic’s 2023 Home Value Index (HVI) has just been released so here is a snippet from what was reported nationally. If you would like a copy of the full report, let us know.

There was a significant turnaround, with an 8.1% national increase, bouncing back from a 4.9% drop in 2022. However, this surge is considerably below the 24.5% rise that was recorded in 2021.

The end of 2023 saw a softening in monthly home values across the nation which showed the smallest gains since values started to rise in February 2023. A combination of factors including interest rate rises, cost of living pressure and affordability challenges certainly cooled the market towards the end of the year.

Despite the overall rise nationally, 2023 had some diverse results with house price growth ranging from a 15.2% surge in Perth to a 1.6% fall in regional Victoria. The difference between home value growth across capital cities saw Perth, Adelaide and Brisbane growing consistently, while Melbourne and Sydney experienced a slowdown from the June interest rate hikes.

CoreLogic Home Value Index Released 02 January 2024

Having expert advice can be your guiding light to navigate the complexities of the property market. CoreLogic’s 2023 HVI confirms that making decisions based on current data is essential, especially given the varied performance across cities and regions throughout the year. 

2024 promises to be another dynamic landscape for the property market. Whether you’re considering selling your home or embarking on a home buying journey, the advantage of having expert advice can make all the difference.  

Take the first step towards your property dreams by scheduling a complementary strategy session with one of our expert property advocates HERE

Let this step be more than just a successful transaction.

Be well-informed throughout 2024, be in control and enjoy the experience.