Celebrating Team Achievements

This weekend was an exciting time for our team, as we celebrated two families receiving the keys to their second properties. It’s a significant milestone, particularly for the amazing mums on our team, including a solo hero – a single mum – who’s been hustling hard. These women are changing generational patterns and solving problems in their lives with knowledge, including learning about property ownership.

Upcoming Group Session Alert

We want to remind everyone about our Monthly Group Session happening this week. Peter Polorotoff from Polo Finance will be leading the session, sharing valuable insights on how to pay off your mortgage in under 10 years. For those who have recently acquired property, this session is crucial. It’s especially important for the families who have just settled into their new homes, providing critical knowledge for your financial wellbeing.

The Surprising Growth of Units

Did you know that units have been appreciating up to nine times faster than houses in the last three months? Yes, you heard that right—up to nine times faster, which is absolutely astounding. Specifically, the fastest-growing suburb has seen a 7.9% property price increase over the last quarter, translating to a potential 31.6% annual growth for units. Out of 1,168 suburbs analysed, 633 have seen units outpace houses in terms of price growth. This trend is something every prospective buyer should be aware of.

Analysing the Surge in Unit Prices

But why are units skyrocketing in value? Three main reasons emerge from the data:

1. Affordability Drives Demand

With current interest rates affecting borrowing capacities, many find their maximum affordable property to be a unit. This reality has made units a more feasible option for many, driving up their demand and, subsequently, their prices.

2. The Widening Price Gap

The price gap between houses and units has reached unprecedented levels, with some suburbs showing a staggering $2.6 million difference. This significant disparity makes units appear as a tremendous value, attracting more buyers to consider them over houses.

3. Limited Supply Fuels the Market

Lastly, the limited availability of new unit projects is contributing to the price surge. With fewer units available and a clear demand for them, prices are naturally increasing.

In conclusion, the last three months have been a whirlwind of activity in the real estate market, with units showing remarkable growth compared to houses. This trend highlights the importance of staying informed and adaptable in the ever-evolving property landscape. Stay tuned for more insights and tips on navigating the property market successfully.