Here’s a great article to give you an idea how the property sector performed for 2013. Striking events in the property sector have been outlined each month, showing us the year that was as concise as possible.
The year starts with an overview of the rental market. 645,000 households have renters living alone. In February, housing affordability was in question, as more properties in downtown areas are being offered. It is also around this time that the supply and demand question was raised, as Australia’s population rose by 40%, prompting concerns for home availability. In March, we questioned the property cycle, and whether the country was at the top or bottom part of the cycle. Foreign investors were making their presence felt, specifically China, in April. In May, property values were revisited, as the “walk factor” was raised. It was found out that the property’s accessibility greatly impacts the value. It was in June that skepticism rose regarding home purchases. July showed that the Australian Population rose to 30% in just 20 years. The housing sector gained momentum in August as housing demand steadily increased. As more homes are available, property prices were questioned in September, as the housing sector experienced an increase in property values. Because of the increase, First Home buyers have staggered back in housing activity in October. It is around this time that we saw First Home buyers accounting for just 13.7% in loan shares of the property market – a 9 year low. There were no stopping home values from increasing as it shot up to 8% in November.
As we are about to finish the year, what has December in store for us? There were a lot of talks of instability in the Property Market, yet it has exceeded our expectations. Here’s to expecting it not to lose steam as the year comes to a close.
Read more about this on the Matusik Missive website.