The Reserve Bank has maintained the cash rate at 4.35%, a level unchanged since November 2023. This stability is reflected in the rolling quarterly change in national home values, which now sits at 1.7%.
However, the annual pace of growth has slowed for the fifth consecutive month, with values up 7.6% over the year to July, a decline from the 9.7% peak seen in February.
Economists are still split on what move the RBA will make next – however what is clear is that a movement either up or down will motivate people who have been sitting on the fence to make their next property move.
As we head into the second half of the year and into the traditional Spring Selling Season, we have seen an uptick in listings as well as an uptick in prices with Regional Queensland showing a solid 2.8% quarterly increase.
We have also seen the rental market relax slightly, with more properties becoming available which is great news for would-be tenants.
In a report released by the REIQ earlier this month, vacancy rates have edged up slightly across Queensland.
REIQ CEO Antonia Mercorella said that “A healthy vacancy rate is one that sits between 2.6% to 3.5% and that’s virtually unheard of at the moment in Queensland”.
At the moment, the average vacancy rate on the Gold Coast is just 1.3%.
Needless to say, we continue to encourage new property investors to come into the market.
If you are thinking of investing, or would like to add to your property portfolio, please reach out to me on the details below.
As always, the team and I look forward to being of assistance.