December 2024 marked the first decline in national home values in nearly two years, with CoreLogic reporting a 0.1% drop. What does this mean for buyers, sellers and investors?
Key Market Trends
Declining Prices in Major Capitals: Sydney and Melbourne led the decline, with Sydney prices down 0.6% and Melbourne down 0.7%.
Brisbane's First Dip in Two Years: Brisbane's market saw a slight decline, ending a 25-month growth streak.
Annual Growth Still Positive: Despite the recent dip, 2024 saw a 4.9% annual increase in property values, adding approximately $38,000 to the median home value over the year.
Opportunities for Buyers and Investors
For First-Home Buyers: With prices stabilising, now might be the time to secure your first property before the next growth cycle begins.
For Investors: Market dips can offer a chance to acquire high-quality assets at more reasonable prices.
For Upgraders: If you're considering upgrading your home, this could be a good time to negotiate a favourable deal.
Don't let market uncertainty hold you back. Contact Mankin Finance for a free consultation.
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