Demand will continue to outstrip supply in 2024! 

Australia’s housing market upswing has become more widespread, with four in five house and unit markets analysed nationally recording a rise in values over the past three months.
CoreLogic’s interactive Mapping the Market tool, updated with data to the end of October 2023, found 83.1% of house markets and 80.6% of unit markets saw values rise in the past three months.
CoreLogic Head of Research Eliza Owen said this broadly reflects continued growth in the Australian housing market, despite high interest rates and weakening economic conditions.
Property investors are also trickling back into the market to capitalise on record-low vacancy rates around the country despite the prospect of higher interest rates. The national vacancy rate reached a record low of just 1.06% in October and was expected to decrease further unless more rental stock became available or new homes were built.
New investor loans rose 2% in September and were 2.6% higher than the same time last year, according to the Australian Bureau of Statistics. 
Mortgage Choice broker Christopher Ladley said investor lending had been trending upwards.
“I’ve seen quite a noticeable increase in the number of enquiries from new and existing clients who are suddenly interested in investment lending,” he said. 
While lending to build and buy new homes were sitting at the lowest levels seen over the past two decades, according to the Housing Industry Association.
New home buyers are facing the longest build times in more than a decade, with the average time to construct a house blowing out to almost 12 months. 
It’s yet another hit to Australia’s worsening housing crisis, as the population grows at a rapid pace and home building weakens further. 
The fact that building costs are higher and timelines are longer than what we normally see means that the supply of new housing is likely to fall further behind what is needed to meet the demand.
This can only put further pressure on house prices and rentals which is likely to drive the market to even further heights in 2024.
If you are currently in the market, now is a great time to buy as more and more buyers choose to focus on their festive seasons rather than continuing the search. This reduces demand and on the supply side any vendors looking to sell are keen to do so before Christmas, so there are often good opportunities to be had.
In this months newsletter we provide some economic insights, property management update, some recent purchases, our vendor advocacy service and our tip of the month on whether building inspections are required for apartments.

Source: Corelogic 2023

CoreLogic’s research director, Tim Lawless, noted a nominal recovery in the national index is likely to be just around the corner. “At this rate of growth, we will see the national HVI reach a new record high midway through November, recovering from the -7.5% drop in values recorded over the recent downturn between May 2022 and January 2023.”

Although housing values are consistently rising across most capital cities, there’s been a clear slowdown in the quarterly pace of growth trend. The three months ending June 2023 saw capital city home values rise by 3.7%. Since then the growth trend has drifted back to 2.6% over the three months to October.

Each month the CoreLogic Research team puts together a Housing Chart Pack, with all the latest stats, facts and figures on the residential property market, such as the combined value of residential real estate, sales volumes, and the trend in new listings.

  • The combined value of residential real estate in Australia climbed to $10.2 trillion at the end of October, up from $10.1 trillion in the previous month.
  • National home values rose 2.3% in the three months to October, easing slightly from a recent high of 3.1% in the June quarter.
  • Of the capital city markets, Perth had the highest three month growth rate in October, at 4.6% Darwin and Hobart had the lowest three month growth rate at 0.3%.
  • CoreLogic estimates there were  40,993 sales in October nationally, compared to a historic five-year average of 44,813 for the month of October.
  • The amount of time it takes to sell property trended slightly higher through the three months to October, with the median days on market nationally sitting at 30 days.
  • At the median level, vendors are now offering less of a discount on their property. The median vendor discount nationally was -3.6% in the three months to October, up from a recent low of -4.3% at the end of last year.
  • In the four weeks to November 5, new listings totalled 43,421 nationally. New listings have trended higher through winter and into the start of Spring, and are now 10.2% higher than a year ago, and -5.4% lower than the previous 5-year average.
  • At the national level, there were 155,478 listings observed over the four weeks to November 5. Total listings are gradually lifting off the back of a more substantial rise in new listings, and are 4.2% higher than a month ago.
  • The combined capital cities clearance rate averaged 65% in the four weeks to October 29, which was steady on the previous four-week period. However, the week of the 29th saw a marked drop in the clearance rate to 62.9%.
  • Australian rent values increased a further 0.7% in October, taking the national annual increase to 8.1%.
  • Dwelling approvals fell a further 4.6% in September. Both house and unit approvals continue to trend well below decade averages.
  • The value of new housing finance secured rose 0.6% in September, off the back of a 2.4% lift in August. Since February, growth in secured housing finance for investors was 16.0%, compared to 6.1% in owner-occupier lending.

Source: Core Logic


With Christmas knocking on our door, we reflect on the wonderful year we have had in the Property Management department.
It has been a busy and challenging year which we have successfully navigated through the myriad of changes. We look forward to continued growth in 2024.


Properties are being snapped up as quick as they are being advertised.  Multiple groups are attending open homes with multiple applications being submitted.
For every approved applicant, there are a number of applicants that are missing out which highlights the media hype surrounding the shortage of rental properties. 
The persistent undersupply of rental properties makes finding an affordable rental more challenging with the national median weekly rent increasing by 15%, from $480pw to $550pw. This resulting in fewer new properties being listed below that $400pw mark.  The way to increase affordable housing in Australia is to build enough new rental properties to meet the demand / reduce the demand.


It is well reported in the media that vacancy rates across the country have been falling over the past months.  Both Melbourne and Sydney have seen the sharpest falls in available rentals over the past 12 moths, meaning the demand for rental properties is greater than the supply.


If your property has been open for inspection and applications have been presented to you, it is critical that you respond to your property manager same day with your instructions. Many applicants are viewing several properties and applying for them all because they don’t want to miss out.  Waiting even a day to respond to your property manager could see your chosen application accepting another property.


If you are planning on going away, please make sure that your property is secure.  Ensure that valuables are put away and that you have let your property manager know that you will not be home. It is always a good idea to provide your property manager with a contact name and number for someone that they can reach in the event they need to.

We pride ourselves on our honest open communication and the strong relationships we build with our rental providers and renters alike.

If you feel that you may benefit from our boutique property management service, please give us a call on 03) 9818 4499 to have a confidential chat.  It may be time for a change.

As we approach the festive season and the buyer pool starts to thin, we have been able to deliver great results for our clients. 
Here are a few purchases below:

Investor – Toorak 

Opportunity presents! Being on the spot, post Auction after Toorak property passes in! 2 storey home with lock up garage, OSP for multiple cars in excellent condition in a quiet court close to all Toorak has to offer on over 400 sqm of land and purchased in the vicinity of $2M! Wow!

Home Buyer – Toorak 

Bought older style 2 bedroom apartment in a small boutique block with large north/west balcony with city views & lock up garage in excellent condition close to Toorak amenities for well under asking price in the $700’s.

Investor – Clayton

Our client approached BA as he lived regionally and didn’t have a complete grasp of the overall Clayton market. He wanted to make an offer on this property without overpaying. BA got to work by attending a private appointment with the agent to see the property, its location, position in the block and grasp the property’s overall attributes and inadequacies.
We assessed the property’s value based on these variables and determined with the client, the best way forward to secure the property. After a week of negotiations, we secure the property well within our client’s budget.

Home Buyer – Reservoir

After a competitive Auction of a comparable property, prior to this one,  in a street close by, BA thought that securing this home may be stretch. With the Vendors full extended family in attendance, it became apparent that our buying competition was short. This property passed-in to BA where we were able to secure the home after a 2 ½ hour negotiation well within budget.

Investor – Melbourne

This property was one with scarcity value. Unlike most of the CBD apartments we previously looked at for this investor client, this one had an edge to it. Located in an old heritage listed hotel, the apartment was split level on the ground floor with living room/ kitchen and entertainment zone along with bathroom leading to a second storey bedroom and ensuite.   The negotiation was fast, given the property had previously been sold and fallen through. Ther owners reserve was fair and reasonable, so BA snapped it up before our competition could.

Home Buyer – Hawthorn

Occupying a vast quarter-acre allotment (approx.) opposite the blissful Grace Park, this extended heritage showpiece delivers faultless family luxury and majestic Queen Anne style in the most exclusive of Hawthorn avenues. Purchased at auction it required expert bidding tactics to secure the property for a price that represented excellent value. Our clients were ecstatic about the result.

Did you know we offer a vendor advocacy service to assist clients achieve the best result in selling their home.

The service facilitates the sale of your property in conjunction with a sales agency.

All fees, sales methods, and campaign are negotiated in consultation with you.

Starting with independent advice on the property value, we will also;

  • Help select only the most competent, senior and professional agency team to represent you
  • Advise on the different methods of sale and marketing campaign
  • Advise on any offers that are received and also attend the auction whilst the selling agent conducts the auction
  • At all times provide you with complete independent advice and manage the campaign with the upmost professionalism

Once the campaign is underway Buyers Advocate will assist with the communications with the agent and provide a sounding board for any questions or issues you may have during the campaign.

Are building inspections required for apartments?

When it comes to purchasing a home or making a property investment, it has been advised the importance of conducting a thorough building inspection. These inspections help to identify potential issues that might not be visible to the untrained eye.

A Building Inspection provides a visual assessment of a property to identify major defects and safety concerns. When it comes to apartments, the scope of the inspection is somewhat limited compared to the standalone houses. The inspector’s access is restricted to the apartment unit itself and the common areas of the building. Consequently, they may not have access to areas above or below the apartment in most cases.

Another important factor to consider is that any building defects related to the structure of the building itself, are the responsibility of the owners corporation to fix. Naturally, nobody wants to invest in a building with ongoing problems and issues. That’s why we normally recommend getting a copy of the strata records inspection report held by the strata manager as the first step. Any issues are also detailed in the minutes of the Annual General Meetings. If you have any concerns at all you can also contact the owners corp directly to obtain answers to your questions. This allows you to gain a comprehensive understanding of any ongoing or recent issues affecting the entire building. If the strata report reveals potential structural concerns that could impact the apartment, then a building inspection might help to assess the risks more thoroughly.