The Investor’s Guide to 2024’s Property Market
The Investor’s Guide to 2024’s Property Market
More people are buying and investing in properties because the real estate market is getting busier again. This is happening because there are not enough rental properties available, and the rent prices are going up quickly. The data shows that more investors are getting loans to buy properties now compared to before the COVID-19 pandemic. This change is happening even though the interest rates are higher, and it follows a time in 2022 when there was less investor activity.
Positive Signs in Investor Activity:
More investors are getting back into action in 2023, and this is seen as a good thing for the overall health of the market. This increase in investor activity is likely to lead to more new construction, which will help balance the supply and demand in the rental market over time.
The latest information from the Australian Bureau of Statistics shows that in November 2023, there was a 1.9% increase in the amount of money lent to people buying houses for investment. The total amount of these new loans was $9.7 billion, which is 18% more than what was recorded in November 2022.
Mortgage Brokers in the industry foresee strong investor lending demand in the coming year. People who help with loans in the real estate business expect that a lot of investors will want to borrow money this year. When interest rates are high, the value of properties goes up, and that makes investors more interested. Investors will start looking more at opportunities related to sustainability and technology.
Expected Trends in 2024:
The way people are investing in properties is changing a lot in 2024. Investors are adjusting their plans to take advantage of new chances in the market. This makes it an interesting year for anyone thinking about getting into the property market.
The market is expecting a strong demand for investors wanting to borrow money throughout the year. Especially in the broking industry, there’s a sense that investors are getting back into the game, showing positive feelings spreading in the market.
What’s Bringing Investors Back:
Rapid Rent Growth:
Rent prices are going up fast, and that’s making it a good time for investors. They see a chance to make a lot of money as people have to pay more for rent.
Not Enough Rental Properties:
There aren’t enough places for people to rent, making investors excited. They know they can find tenants quickly, making sure they get a steady income.
Recovery from Pandemic Worries:
In the past few years, many investors sold their properties because they were worried about the pandemic and other uncertainties. Now, as things get better, investors are feeling more confident about the property market.
Positive Economic Outlook:
The positive outlook for the economy, combined with investors getting back into the game, is expected to boost the construction sector. More construction projects don’t just help the economy but also slowly balance out the rental market.
Bottom Line
In 2024, more investors are coming back to the property market, and it’s becoming a big trend. Rent prices are going up fast, there aren’t enough rental properties, and the signs for getting loans are looking good. This all points to a promising year for people thinking about investing. The expected increase in new construction is not just good for the economy; it also helps even out the rental market. Keep an eye out for the interesting things happening in the property market this year!
Seeking a deeper understanding? Delve into the insights. Connect with Nfinity Financials Mortgage Brokers for valuable information on market dynamics and stay well-informed. Got a query? Book your consultation now or give us a call at 1300 GETLOAN. We are here to help!
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