Here’s Why Property Investors Should Anticipate Growth in 2024

As March 2024 unfolds, property investors are presented with a landscape ripe with potential. Mirren Investment Properties, your trusted partner in navigating the real estate market, is excited to share why this year holds promise for those seeking to build wealth through property investment. Here are five compelling reasons to look forward to the remainder of 2024:

Targeted Investment Strategies for a Dynamic Market

As always, the key to success lies in strategic investing rather than following national averages. At Mirren Investment Properties, we advocate for a tailored approach, focusing on quality properties in high-growth locations. By identifying emerging trends and gentrifying suburbs, investors can capitalize on unique opportunities for long-term wealth accumulation.

Capitalizing on Supply-Demand Dynamics

The persistent imbalance between supply and demand continues to underpin property prices across Australia. With strong immigration fueling demand and limited new construction, established properties retain their value, presenting investors with opportunities to leverage existing equity and secure high-performing assets.

Economic Stability Driving Investor Confidence

Australia’s resilient economy, characterized by low unemployment rates and government infrastructure projects, provides a stable foundation for property investment. Moreover, the expectation that interest rates have peaked offers investors confidence in their long-term financial strategies, fostering an environment conducive to sustainable growth.

Rental Market Resilience

The rental market remains robust, with low vacancy rates and escalating rents enhancing the attractiveness of investment properties. As rental income streams strengthen, investors can enjoy improved cash flow positions, further bolstering the appeal of real estate investment as a wealth creation strategy.

International Investment Inflows Signal Market Strength

The resurgence of foreign investment in Australian property signals market stability and sustained demand for premium properties. As international interest returns, investors can benefit from heightened competition and increased market liquidity, paving the way for enhanced capital appreciation opportunities.

 

At Mirren Investment Properties, we understand that success in property investment requires strategic planning and expert guidance. Now’s the time to seize the opportunities that lie ahead. Contact us today to schedule a consultation and discover how we can help you achieve your goals and dreams through strategic property investment.

In the fast-paced world of real estate, it’s crucial to stay in the loop with the latest trends and challenges. At Mirren Investment Properties, we’ve got our finger on the pulse, and we’re here to share some insights that could shape your investment strategy. In this blog post, we’ll explore recent developments in the Australian property market and what they mean for investors like you.

Understanding the Landscape

Recent data reveals a decline in new home building approvals across Australia, with a notable drop in apartment approvals. This shift brings both challenges and opportunities for property investors looking to make smart moves in the market.

What Are the Implications for Property Investors?

Limited Supply: The decrease in building approvals suggests a potential scarcity of new properties entering the market. This scarcity could boost the value of existing properties.

Construction Costs: Higher building material costs may impact the profitability of construction projects. Investors should carefully assess the feasibility of new developments in light of these challenges.

Lending Environment: The reduced lending for home construction or purchase may affect the availability and terms of loans for property investors. Staying abreast of the evolving lending landscape is essential for planning future investments.

Navigating the Market

Adapt Your Strategy: Given the changing dynamics, consider adapting your investment strategy to align with the current market conditions. This might involve focusing on existing properties or exploring alternative investment avenues.

Stay Informed: Regularly monitor updates on market trends, government policies, and lending conditions. Being well-informed enables you to make decisions that align with your investment goals.

Mirren Investment Properties – Your Trusted Partner

At Mirren Investment Properties, we’re committed to guiding you through the complexities of the real estate market. Our expert team is well-versed in market dynamics, and we tailor our services to meet your specific investment needs.

Let’s Plan Your Next Move

In this dynamic landscape, strategic decision-making is key. Whether you’re considering expanding your portfolio or seeking advice on existing investments, our team at Mirren Investment Properties is here to assist you. Contact us today to schedule a consultation tailored to your goals and dreams. Let’s navigate the real estate market together and secure a prosperous future!

Median house price: $459,000 (Feb 2023 – Jan 2024)
Past 12 month growth: 13.1%
Median house rental value: $460 PW ((Feb 2023 – Jan 2024)
Transport: Car, train, bus
Population: 3,912 (2016)
State: Queensland
Location: Ipswich – Greater Region

Steeped in history, Leichhardt stands as a testament to Queensland’s past, with each corner telling a story of its own. From quaint cottages to grandiose landmarks, the suburb’s architecture serves as a reminder of its storied past, offering residents a glimpse into bygone eras, and inviting residents to immerse themselves in its rich heritage while enjoying modern conveniences.

Key Highlights:
Historic Charm: Leichhardt boasts a rich historical heritage, characterized by streets lined with character-filled homes and buildings that reflect its past. Residents value the suburb’s unique charm and sense of history, evident in its well-preserved architecture.

Community Spirit: Leichhardt fosters a strong sense of community, with residents actively engaging in local events, markets, and recreational activities. This active participation contributes to a vibrant atmosphere where individuals feel connected and supported within the neighbourhood.

Amenities and Facilities: Leichhardt offers a comprehensive range of amenities, including schools, parks, shopping centres, and medical facilities, ensuring convenience and accessibility for residents’ daily needs. The availability of essential services enhances the overall quality of life in the suburb.

Natural Surroundings: Surrounded by picturesque landscapes, Leichhardt provides residents with ample opportunities for outdoor recreation. From tranquil walking trails to spacious parks and green spaces, the suburb’s natural beauty contributes to a serene and peaceful environment.

Transport and Connectivity: With easy access to major transport routes, including highways and public transportation networks, Leichhardt enjoys seamless connectivity to neighbouring suburbs and the wider Queensland region. Efficient transport options facilitate convenient travel for residents.

Shopping and Dining: Residents of Leichhardt can explore a diverse array of shopping and dining options within the suburb. Local shops, cafes, and restaurants offer a variety of choices to suit every taste and budget, enhancing the overall lifestyle experience for residents.

Family-Friendly Environment: Leichhardt is an ideal suburb for families, boasting quality schools, childcare centres, and recreational facilities tailored to the needs of residents of all ages. The suburb’s safe and welcoming environment promotes family-centric living, contributing to a desirable residential community.

Leichhardt offers a quintessential Queensland living experience, where a rich historical backdrop intersects seamlessly with contemporary amenities and a thriving community atmosphere. Its diverse mix of heritage, facilities, and natural surroundings provides residents with a well-rounded lifestyle, grounded in tradition yet open to progress.

As a suburb that values its heritage while embracing modernity, Leichhardt presents itself as an attractive destination brimming with charm and opportunity within Queensland.

Let us help you find the perfect investment property in Leichhardt, QLD. Contact us now.

For property investors seeking high-yield opportunities, the spotlight is now firmly on Western Australia. In a remarkable shift, Western Australia has surged to second place, surpassing New South Wales as the preferred investment destination in Australia. The key player in this transformation is Perth, where dwelling values skyrocketed by an impressive 15.2% in 2023, marking the highest return in the nation for any major city or regional centre.

Strategic Investment in Perth

As a property investor, it’s crucial to stay ahead of market trends, and the latest data from the Property Sentiment Report for Q4 2023 signals that Perth’s property market is not just a fleeting success. Forecasts predict further price increases well into 2024, making it an opportune time for strategic investments in the region.

Coastal Markets: A Haven for Growth

Despite economic challenges, Australia’s regional coastal markets have proven resilient, with over one-third (35%) recording housing values at record highs by the end of 2023. The jewel in the crown is Western Australia, dominating the list of top coastal suburbs with the highest annual capital gains. Mandurah, Perth’s South West, and Bunbury claim more than half of the top 20 spots, showcasing the immense potential for investors seeking both growth and stability.

The Winning Combination: Affordability and Lifestyle

In 2023, the divergence between city and regional property markets became pronounced, and coastal regions were no exception. The top-performing coastal markets in Western Australia and Queensland owe their success to a combination of affordability and lifestyle attributes. Buyers, recognizing the value in these regions, not only rode the upswing but also contributed to the resilience of these top-performing suburbs.

Top 20 Coastal Markets: Where Value Meets Lifestyle

Among the top 20 highest growth coastal markets, every suburb had a median value well under $1 million. These are not just glamorous hot spots but areas that offer a strategic blend of value, lifestyle attributes, and affordability. The opportunity to make a sound investment in areas like Mulambin and Rosslyn, with median dwelling values under $1 million, presents a compelling proposition for savvy investors.

Take Action Today: Contact Mirren Investment Properties

As property investment experts, Mirren Investment Properties recognizes the strategic potential of Western Australia’s property market. Now is the time to explore the opportunities that Perth and its coastal regions offer to investors like yourself.

For personalized insights and guidance on how to capitalize on the thriving property market in Western Australia, contact Mirren Investment Properties. Our team is ready to assist you in making informed investment decisions that align with your financial goals. Seize the moment and unlock the potential of Western Australia’s property boom!

Sources: Property Sentiment Report Q4 2023, Property Pulse, Research News 25th Jan 2024, CoreLogic.

 

 

Median house price: $511,500 (Feb 2023 – Jan 2024)
Past 12 month growth: 13%
Median house rental value: $550 PW ((Feb 2023 – Jan 2024)
Transport: Car, train, bus
Population: 22,678 (2016)
State: Western Australia
Location: 23km from Perth CBD

Ellenbrook, situated in Western Australia, offers a harmonious blend of urban convenience and natural tranquillity. This vibrant suburb is renowned for its picturesque landscapes, modern amenities, and strong community spirit.

Key Highlights:
Community Living: Ellenbrook fosters a close-knit community atmosphere where residents enjoy a high quality of life amidst lush greenery and serene parklands.

Amenities and Facilities:The suburb boasts well-planned infrastructure, schools, shopping centres, medical facilities, and recreational amenities, ensuring convenience at every turn.

Natural Beauty: Surrounded by stunning natural landscapes, Ellenbrook offers residents opportunities for outdoor recreation, including walking trails, lakeside picnics, and nature exploration.

Transport and Connectivity: Ellenbrook enjoys easy access to transport options, including bus services and major arterial roads, facilitating seamless connectivity to Perth and surrounding areas.

Shopping and Dining: Residents can indulge in a vibrant retail and dining scene, with a diverse range of shops, cafes, and restaurants catering to every taste and preference.

Family-Friendly Environment: Ellenbrook prioritizes family-friendly amenities, including educational facilities, childcare centres, and recreational activities tailored for families of all sizes.

Ellenbrook embodies the perfect balance between urban convenience and natural serenity, offering residents a peaceful retreat from the hustle and bustle of city life while still enjoying easy access to all modern amenities.

Future Growth and Development

As Western Australia continues to evolve and grow, Ellenbrook is well-positioned for development and expansion. For investors, this presents an opportunity to get in on the ground floor of a suburb with a bright future.

Let us help you find the perfect investment property in Ellenbrook, WA. Contact us now.

In the ever-evolving landscape of property investment, staying informed about economic indicators is crucial. Mirren Investment Properties, committed to providing valuable insights, delves into the latest inflation data and its implications for property investors. CoreLogic’s Head of Research Eliza Owen breaks down the numbers, revealing a potential wave of opportunities for savvy investors.

The Good News on Falling Inflation
The recent Consumer Price Index (CPI) results for the December quarter bring optimistic news for property investors. Inflation has fallen once again, from 5.4% in September to 4.1%, marking the fourth consecutive quarter of decline. This trend indicates softer demand in the economy, with impacts observed in retail trade, job vacancies, and a slight rise in unemployment.

Implications for Monetary Policy
The silver lining in falling inflation lies in its positive implications for monetary policy. A decrease in inflation strengthens the case for interest rates remaining steady in the short term and potentially coming down later this year. A reduction in interest rates is expected to boost housing demand, offering an exciting prospect for property investors.

Housing’s Impact on Inflation
Housing, comprising around 22% of the CPI basket, plays a significant role in inflation calculations. The CPI measure for the purchase of new homes has eased to 5.1%, down from 5.2% in the previous quarter, indicating a favorable direction for property prices. Despite easing, residential construction remains a substantial contributor to inflation, influenced by high labor and material costs.

Rent Component of CPI
The annual growth in the rent component of CPI was 7.3% in the December quarter, showing signs of easing from the previous quarter. While still above the pre-COVID decade average, the slowing rate of increase suggests hope for tenants. CoreLogic rent measures further support this outlook, indicating a potential turnaround in the rental market in 2024.

The Takeaway for Property Investors
Although inflation remains above the Reserve Bank of Australia’s target range of 2-3%, the positive trajectory and faster-than-anticipated decline signal potential relief for property investors. As the economic landscape adjusts, Mirren Investment Properties anticipates a favorable environment for investors with the easing of living costs and a growing expectation of rate cuts later this year.

At Mirren Investment Properties, we are committed to helping you navigate the dynamic world of property investment. If you’re looking to capitalize on the potential opportunities presented by falling inflation, contact us today. Our team of experts is ready to guide you through strategic investment decisions that align with your financial goals. Don’t miss out on the wave – seize the opportunity for growth with Mirren Investment Properties.

The Australian property market showcased resilience and opportunity in 2023, with the CoreLogic national Home Value Index (HVI) recording an impressive 8.1% surge in home values. While this marked a significant turnaround from the previous year’s decline, it was below the extraordinary surge seen in 2021.

Throughout the year, the market exhibited diversity, with various regions experiencing differing trends. Capital cities like Perth, Adelaide, and Brisbane sustained strong growth rates due to relatively lower housing affordability challenges and lower advertised supply levels. In contrast, larger cities such as Sydney and Melbourne saw a slowdown in growth due to factors like rate hikes, increased living costs, and heightened supply.

The trend favored capital cities, showcasing a robust 9.3% surge in dwelling values compared to the combined regional index’s 4.4% rise. Despite this growth, some capitals still sit below their peak values, presenting potential investment opportunities. Sydney, Melbourne, ACT, Hobart, and Darwin recorded values below their record highs, indicating the potential for growth in these markets.

Key Takeaways for Investors in 2024:

Diverse Opportunities: The market exhibited diversity, offering varied investment opportunities across different regions and cities.

Capital City Potential: Capital cities showed robust growth trends, making them potential focal points for investment due to their higher growth rates compared to regional areas.

Potential for Growth: Capitals like Sydney, Melbourne, and others are below peak values, presenting potential growth opportunities for investors.

Resilience Amidst Diversity: The market demonstrated resilience despite diverse trends, hinting at stability and potential long-term growth prospects.

Considering the evolving landscape of the Australian property market in 2023, the potential for growth, and the diversity of opportunities make 2024 an appealing year for property investment. If you’re ready to explore these opportunities, contact Mirren Investment Properties today to discuss how we can help you make the most of your property investment journey.

The Australian real estate market has been witnessing a sustained surge in property prices, marking an ongoing trend that raises pertinent questions about the future trajectory of the housing market. At Mirren Investment Properties, we delve into the driving forces underpinning this upward momentum and explore why this trend is likely to persist in the foreseeable future.

Supply-Demand Imbalance: A Fundamental Catalyst

One of the foundational drivers behind the soaring property prices in Australia is the persistent imbalance between housing demand and the available supply. The burgeoning demand for residential properties, stemming from population growth, aspirational homeownership, and investment opportunities, far outpaces the rate of new housing construction. This continual shortfall in supply acts as a significant force propelling prices upwards.

Population Dynamics and Urbanization: Influence of Net Overseas Migration

Source: https://www.macrobusiness.com.au/2023/11/harry-triguboff-panics-after-rba-rate-rise/

Australia’s sustained pace of net overseas migration significantly impacts population dynamics, intensifying the strain on the housing market. Major urban centres, magnets for both local and international migrants, experience heightened demand for housing, significantly surpassing the available supply in these high-demand areas. The resultant pressure contributes substantially to the upward trajectory of property prices, particularly in these sought-after locations.

Investment and Market Sentiment

Investor sentiment plays a pivotal role in influencing property prices. As property continues to be perceived as a secure investment, coupled with historically low-interest rates and alternative investment options, the real estate market remains an attractive choice for investors seeking long-term returns. This sustained interest and confidence in property investment contribute to the buoyancy of prices across the market.

The Mirren Perspective: Navigating Opportunities in an Evolving Market

At Mirren Investment Properties, we understand the intricacies of the Australian property market. Our insights reflect the understanding that this ongoing rise in property prices is fueled by a convergence of factors, primarily the demand-supply imbalance and the impact of net overseas migration on population dynamics.

As we continue to observe this upward trend, we remain dedicated to identifying and presenting investment opportunities aligned with market dynamics. Our commitment is to empower investors by offering astute analysis, informed strategies, and comprehensive market perspectives, enabling them to navigate and capitalize on the evolving landscape of Australian real estate.

For personalized insights and tailored investment strategies, contact our team at Mirren Investment Properties. Contact us now to explore lucrative investment opportunities!

Investing in properties is like navigating a complex puzzle; every piece, every decision, matters. At Mirren Investment Properties, we understand the significance of these choices and are here to guide you through the core principles that can help you unlock success in property investment.

Long-Term Vision

Property investment is not a get-rich-quick scheme. It’s a long-term commitment. Be patient and maintain a long-term vision. Property values can fluctuate, but historically, real estate has shown a tendency to appreciate over time.

Professional Guidance

Property investment is a journey best taken with experienced guides. Mirren Investment Properties offers full-service support, from property strategy, search to acquisition & expansion. Our experts handle the complexities, so you can focus on your investment goals.

Finance Feasibility

Your investment should be a good asset, not a liability. Calculate the costs involved in your property purchase, including the mortgage, taxes, insurance, maintenance, and property management fees. Then, assess the potential rental income and capital growth. We can help you crunch the numbers and ensure your investment is profitable.

Due Diligence

Knowledge is your most powerful tool in property investment. Do your research thoroughly. Investigate the local property market, understand the legal and regulatory aspects of real estate transactions, and be aware of market trends. Our team stays updated with the latest market insights, ensuring you have the information you need to make informed decisions.

Location, Location, Location

You’ve heard it before, and you’ll hear it again because it’s the golden rule of real estate. The location of your investment property can make or break your returns. Consider factors like proximity to schools, transport, amenities, and the potential for growth in the area. Our team has access to properties across Australia, so we can match you with the perfect location for your investment goals.

Property Selection

One size does not fit all in property investment. Your choice of property should align with your investment strategy. Are you looking for high rental yields, long-term capital growth, or a fixer-upper project? We’ll work with you to identify properties that match your goals.

Risk Management

Investing in real estate carries risks, and it’s essential to manage them wisely. Diversify your portfolio, consider different property types and locations, and have contingency plans in place. We can help you create a risk management strategy tailored to your circumstances.

As you embark on your property investment journey, trust us to be your partner, helping you make informed decisions and realise your goals and dreams. Contact us now.

At Mirren Investment Properties, we have been closely monitoring the remarkable resurgence of the Australian property market. The property prices are soaring, defying expectations despite interest rate hikes and economic uncertainties. In this article, we provide a perspective on how migration is emerging as a fundamental driver behind the surge in property demand in Australia.

 

The Migration Boom Down Under

 

Australia’s enduring appeal as a global destination is taking centre stage, and migration is playing a pivotal role in this resurgence. Over the years, several factors have contributed to this migration boom.

 

Population Growth Surpasses Expectations: The Australian government’s forecasts have been upgraded, with the fiscal year expecting a population growth of 2.0%. This increase significantly impacts the demand for housing, which lies at the core of our property investment focus.

 

Net Overseas Migration: A substantial part of this population growth is attributed to net overseas migration, predicted to reach 400k in 2022/23 and 315k in 2023/24. This influx of people into Australia, driven by its thriving economy and quality of life, has resulted in a surge in housing demand.

 

The Impact on Property Demand

 

Migration has a profound impact on Australia’s property market:

 

Increased Demand for Investment Properties: As people move to Australia, the demand for housing naturally increases. New arrivals, including international students, temporary workers, and permanent residents, require comfortable living spaces. This heightened demand translates to potential opportunities for our property investment portfolio.

 

Rental Market Growth: The influx of new residents has led to substantial growth in the rental market. As more people seek rental accommodations, rental prices have witnessed a remarkable increase. RBA Governor Philip Lowe’s prediction of rent inflation reaching around 10% per year emphasizes the robustness of this trend.

 

Supply and Demand Imbalance: The supply of new housing has not kept pace with this population growth. At Mirren Investment Properties, we recognize that this supply-demand imbalance is one of the core reasons behind the continuous rise in property prices. It’s a classic case of strong demand outstripping supply.

 

The Future Outlook

Considering the current dynamics, we believe that migration will continue to be a fundamental driver of property demand in Australia. This outlook suggests that property prices are expected to maintain an upward trajectory, despite concerns about affordability. For us at Mirren Investment Properties, this presents both exciting opportunities and unique challenges in managing and expanding our property investment portfolio.

 

Conclusion

At Mirren Investment Properties, we recognize the transformative role that migration plays in the Australian property market. As population growth exceeds expectations and net overseas migration continues to rise, housing demand remains strong. This trend is reshaping the property market, affecting prices, rents, and the overall dynamics of the Australian real estate sector. It reinforces our commitment to providing exceptional property investment opportunities in this dynamic and ever-evolving market.

 

Contact us now to explore the best property investment options in this dynamic market.