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The Australian housing market has entered a phase of moderation after nearly two years of robust growth. Recent data from the CoreLogic Home Value Index (HVI) for January 2025 reveals significant shifts, including a national decline in home values and varying performances across capital cities and regional areas. This article delves into the factors driving these trends and offers insights into what 2025 might hold for buyers and investors. Index results as at 31 December 2024 from Corelogic National Home Value Trends For the first time in nearly two years, Australia experienced a decline in national home values, with a modest decrease of -0.1%  in December 2024. This marked the end of a growth phase that spanned from February 2023 to October 2024, largely driven by high interest rates and affordability pressures. • Annual Performance : Despite the December decline, national home values rose by 4.9%  in 2024, equating to an average increase of $38,000 in median property values. • Shift in Demand : Upper-quartile markets grew by just 1.5% , compared to 9.8%  growth in lower-quartile markets, reflecting a shift in buyer focus towards affordability. Change in dwelling values over key time periods from Corelogic Capital City Performance Capital cities showed mixed results, with some markets underperforming while others sustained growth: • Adelaide : Recorded a 2.1% increase  in values during the December quarter, becoming the strongest performer. Low advertised stock levels, 34% below the five-year average, supported this growth. • Perth : Followed closely with a 1.9% rise , driven by high demand and relatively affordable prices. • Sydney : Experienced a 0.6% decline  in December due to affordability constraints and increased stock levels. • Melbourne : Declined by 0.7% , reflecting continued challenges in attracting buyer interest amidst high costs. Regional Market Strength Regional markets continued to outperform many capital cities, showcasing a 6.0% annual growth  in home values. Key trends include: • Growth Leaders : Regional WA (+16.1%), SA (+12.5%), and QLD (+10.5%) led the charge. • Declining Markets : Regional Victoria (-2.7%) and NT (-4.7%) were exceptions, highlighting the variability in regional performance. Factors Influencing the Market 1. Interest Rates : Rising borrowing costs have tempered buyer demand, particularly in higher-value markets. Future rate cuts by the Reserve Bank of Australia could provide relief and drive renewed interest. 2. Affordability Constraints : Elevated property prices and inflationary pressures have pushed buyers towards more affordable segments. 3. Supply and Demand Dynamics : Despite increased listings in some cities, overall housing supply remains tight, especially in high-demand regional areas. Annual change in rents from Corelogic The Rental Market The rental market showed signs of stabilization: • Rental Growth : Slowed to just 0.1%  in December, after years of sharp increases. • Yields : Gross rental yields held steady at 3.69% , though variations persisted by region and property type. Outlook for 2025 Analysts predict a more balanced market in 2025, with modest growth depending on several factors: • Potential Rate Cuts : If the RBA reduces interest rates, it could increase borrowing capacity and fuel demand. • Construction Costs : High building costs and supply chain issues remain barriers to new housing supply. • Migration Trends : Record migration levels are expected to sustain housing demand in both urban and regional areas.。 Advice for Buyers and Investors 1. Focus on Affordability : Lower-quartile markets offer better opportunities amid affordability challenges. 2. Monitor Regional Growth : Many regional markets are outperforming capitals, offering strong growth potential. 3. Plan for the Long Term : With short-term fluctuations, a long-term investment horizon is key to maximizing returns. The Australian housing market is transitioning to a more stable phase after an extended period of growth. While challenges such as affordability constraints and interest rate pressures remain, opportunities still exist, particularly in regional markets and lower-value segments. Buyers and investors should stay informed, monitor market trends, and approach decisions with strategic foresight. References 1. CoreLogic Home Value Index - January 2025 2. CoreLogic Housing Market Insights 3. Australian Property Market Analysis - Property Update 4. Regional and Urban Trends - The New Daily Disclaimer This article is for informational purposes only and does not constitute financial, legal, or real estate advice. While efforts have been made to ensure accuracy, market conditions can change. Readers are advised to consult with licensed professionals and verify information through official channels before making property-related decisions.

Choosing the right type of property is a crucial decision when buying a home. Different types of properties cater to different needs, and whether you’re purchasing for personal residence or investment, making the right choice can maximize your benefits and enhance your lifestyle. Here’s an analysis of apartments, townhouses, and standalone houses to help you make an informed decision. 1. Apartments Features: Apartments are typically located in central or high-demand areas, offering affordability and low maintenance. Most come with shared facilities such as gyms, pools, or parking. Ideal for: • Singles or Young Couples:  Apartments near workplaces and public transport suit urban lifestyles. • Investors:  High rental demand in city locations makes apartments a reliable choice for steady rental income. • International Students and Professionals:  Proximity to schools, businesses, and amenities provides convenience. Pros: • More affordable with lower initial costs. • Low maintenance needs with access to shared facilities. • Convenient locations near public transport, dining, and shopping centers. Cons: • Limited space, which may not suit families. • Less privacy due to shared walls and communal areas. • Lower long-term capital growth compared to land-based properties. 2. Townhouses Features: Townhouses blend features of apartments and standalone houses. They usually have multiple levels, private entrances, and small gardens or garages while sharing walls with neighboring units. Ideal for: • Small Families:  Provides more space than apartments while being easier to maintain than standalone houses. • Budget-Conscious Buyers Needing More Space:  Offers a balance between size and affordability. • Long-Term Residents:  Comfortable for establishing a stable lifestyle in a community-oriented environment. Pros: • Larger than apartments with private outdoor spaces. • More affordable than standalone houses. • Strong community atmosphere, with some townhouses offering shared amenities. Cons: • Shared walls can compromise privacy. • May involve body corporate fees for maintaining shared spaces. • Smaller land area, which limits long-term capital growth potential. 3. Standalone Houses Features: Standalone houses are detached properties situated on their own land. They offer maximum privacy, larger living spaces, and outdoor areas like gardens or yards. Ideal for: • Large Families:  Provides ample space and independence for family living. • Privacy Seekers:  No shared walls, ensuring a quiet and private lifestyle. • Long-Term Investors:  Full land ownership allows for higher potential capital appreciation. Pros: • Spacious living areas and more room for customization. • Full ownership of both land and property offers higher investment potential. • Strong privacy and independence. Cons: • Higher purchase price and initial costs. • Maintenance responsibilities, including repairs and landscaping. • Often located in suburban areas, leading to longer commutes. How to Choose the Best Property Type for You? Choosing the right property depends on the following key factors: 1. Budget:  Ensure you choose a property type that aligns with your financial situation. 2. Lifestyle:  Consider your need for convenience, space, and privacy when making a decision. 3. Investment Goals:  If purchasing for investment, evaluate rental yield, capital growth potential, and maintenance costs. 4. Future Plans:  Take into account your long-term needs, such as family size or career changes. Conclusion Whether you choose an apartment, townhouse, or standalone house, each type of property has its unique advantages and drawbacks. Understanding your needs, combined with your budget, location preferences, and long-term goals, will help you choose the perfect property. If you have any questions about property selection, feel free to contact our team. Core Elite Real Estate is here to provide professional advice and support! Disclaimer This article provides general information and does not constitute financial, legal, or investment advice. Figures and trends mentioned are based on current data and are subject to change. Please consult with qualified professionals or refer to authoritative sources, such as CoreLogic or the Australian Bureau of Statistics, for specific advice. Core Elite Real Estate is not responsible for decisions made based on this content.

Buying a property is a significant decision. Whether it’s for personal residence or investment, thorough research and planning are essential. Many buyers face challenges due to inexperience or lack of information. Here are some key points to consider before buying a property to help you prepare and avoid unnecessary risks. 1. Define Your Buying Goals Before starting your property search, it’s crucial to clarify your goals. Consider the following: • Is it for personal use or investment? For personal use, prioritize convenience and preferences. For investment, focus on rental income and capital growth potential. • Is it a short-term or long-term plan? For long-term ownership, the property’s appreciation potential is essential. For short-term ownership, market fluctuations and resale feasibility should be considered. • What’s your budget? Determine a clear budget range based on your income and loan eligibility. 2. Understand the Market Researching the real estate market is crucial, especially for the area you’re interested in. Focus on the following: • Price Trends:  Study the historical price trends in your target area to assess whether the market is in an upward phase. • Rental Market:  For investment properties, analyze rental demand and rent levels. • Supply and Demand:  Look at the supply of listings and the demand in the area to gauge market competitiveness. Useful resources for market information include: • Real estate platforms like Realestate.com.au or Domain. • Research reports from CoreLogic and other professional institutions. • Local auction results. 3. Choose the Right Property Type The type of property you choose significantly impacts your experience and future returns. Common property types include apartments, townhouses, and standalone houses. Each has unique features and caters to specific needs: • Apartments:  Ideal for budget-conscious buyers or those seeking city convenience. • Townhouses:  Offer more space while being easier to maintain than standalone houses. • Standalone Houses:  Perfect for those needing more privacy and space, with higher appreciation potential. Choose the property type that best suits your needs and lifestyle. 4. Financial Preparation Buying a property involves significant financial preparation, not just for the purchase price but also for additional expenses. Key costs to consider: • Down Payment:  Typically 20% of the property price, depending on loan policies. • Stamp Duty:  A major cost based on the property value. • Loan Costs:  Include application fees, interest rates, and monthly repayments. • Other Expenses:  Property inspections, legal fees, moving costs, etc. When discussing loans with lenders, understand all details and set aside emergency funds for unforeseen situations. 5. Property Inspections Thorough property inspections are essential to ensure the property’s condition meets expectations. These include: • Structural Checks:  Look for cracks, leaks, or other damage. • Pest Inspections:  Check for termites or other infestations. • Repair Costs:  Evaluate whether significant renovations or repairs are required. If there are issues, you may negotiate with the seller to cover some of the repair costs. 6. Legal and Contract Details Property transactions involve numerous legal and contractual terms. Before signing any agreements, thoroughly review them and consult professionals: • Ownership Type:  Ensure you understand the property’s ownership type (e.g., freehold or strata title). • Contract Terms:  Ensure the terms of the sales contract are favorable, especially regarding payments, settlements, and penalties. • Restrictions and Regulations:  Learn about zoning rules, land usage, and any restrictions that may impact your plans. Seek assistance from a lawyer or legal advisor to review the contract and avoid future disputes. 7. Long-Term Potential Whether for personal use or investment, the property’s long-term potential is vital: • Appreciation Potential:  Choose areas with strong growth prospects, such as developing neighborhoods or popular school zones. • Resale Demand:  Consider the property’s competitiveness in the resale market. • Adaptability:  Assess whether the property can meet your future lifestyle or investment goals. Conclusion Buying a property is a major investment. Understanding the market, clarifying your needs, preparing financially, and seeking professional advice are the keys to a successful purchase. Whether you’re a first-time buyer or an experienced investor, these insights can help you make a more informed decision. If you have any questions or need professional assistance, feel free to contact us. Core Elite Real Estate is here to provide expert guidance and support, ensuring your property-buying journey is smooth and rewarding! Disclaimer This article provides general information and does not constitute financial, legal, or investment advice. Figures and trends mentioned are based on current data and are subject to change. Please consult with qualified professionals or refer to authoritative sources, such as CoreLogic or the Australian Bureau of Statistics, for specific advice. Core Elite Real Estate is not responsible for decisions made based on this content.

The Melbourne property market in 2024 is experiencing significant changes. Whether you’re a first-time buyer or an experienced investor, this is an important time to pay attention to market trends. Below is an overview of the latest developments in Melbourne’s real estate landscape to help you make informed decisions. 1. Property Price Trends According to recent data, Melbourne’s property prices increased by 0.5%  in October 2024, with the median price reaching $793,000 . While annual growth has been relatively flat, with a slight decline of 0.07% , Melbourne remains one of the most affordable major cities in Australia. Experts forecast a 3% to 6%  increase in median prices for the 2025 financial year, equating to a rise of approximately $27,000 to $55,000 . This growth is attributed to Melbourne’s relative affordability compared to Sydney and potential tax incentives. 2. Record-High Property Listings Melbourne’s property supply hit a 12-year high  in 2024. The number of new listings in September and October increased by 16% year-on-year , giving buyers more options than ever before. With auction clearance rates hovering around 50% , the rise in supply has reduced pressure on buyers, creating a favorable environment for negotiation and exploration. 3. Investment Potential Melbourne is currently regarded as a “bargain zone” in Australia’s real estate market, making it attractive for investors. Compared to other cities, Melbourne’s property prices are stable, and the market presents opportunities for significant long-term returns. Emerging areas in the northern and western growth corridors, supported by new infrastructure projects, are becoming investment hotspots. These regions are ideal for investors looking to capitalize on future growth potential. 4. Buyer Sentiment and Market Outlook While the market is showing signs of recovery, buyer sentiment remains impacted by rising living costs  and reduced borrowing power . However, experts predict that as economic conditions improve and interest rates potentially decline, Melbourne’s property market will experience a stronger recovery. Additionally, Melbourne’s newly developed infrastructure, including schools, metro lines, and shopping centers, will further enhance property appeal and value. Conclusion Melbourne’s property market is in a phase of adjustment and recovery. Whether you’re buying for personal residence or investment, the current increase in supply and price affordability offers excellent opportunities for buyers. With ongoing market recovery and infrastructure improvements, Melbourne’s real estate market is poised for long-term growth. If you’re interested in Melbourne’s property market, feel free to reach out to Core Elite Real Estate . Our professional team is here to provide you with the latest insights and personalized advice to make your property journey seamless. References • Melbourne homes for sale hit whopping 12-year high • Melbourne homes set for $55k lift in record boom • Melbourne cops biggest home price fall of mainland capitals Disclaimer This article provides general information and does not constitute financial, legal, or investment advice. Figures and trends mentioned are based on current data and are subject to change. Please consult with qualified professionals or refer to authoritative sources, such as CoreLogic or the Australian Bureau of Statistics, for specific advice. Core Elite Real Estate is not responsible for decisions made based on this content.

Australia’s interest rate policy plays a critical role in shaping the economy and the real estate market. As of November 2024, the Reserve Bank of Australia (RBA) has maintained the cash rate at 4.35% , the highest level in 13 years. This decision is aimed at managing persistent inflation pressures while ensuring economic stability. Here’s an in-depth look at the current interest rate environment, forecasts from major banks, and its implications for the real estate market. 1. Current State of Interest Rates in Australia Australia’s cash rate currently stands at 4.35% , following a series of rate hikes since late 2022 to combat rising inflation. This elevated rate has significantly impacted borrowing costs, housing demand, and overall market activity. • Inflation Pressure:  While the overall inflation rate is gradually declining, core inflation (excluding volatile factors like energy and food) remains above the RBA’s target range of 2%-3%. • Strong Labor Market:  The unemployment rate remains low at 3.6% , reflecting a robust labor market. This economic resilience has supported the RBA’s decision to keep rates high. 2. Major Banks’ Interest Rate Forecasts While rates remain high, most major banks predict the RBA will begin cutting rates in 2025. Here’s what they forecast: • National Australia Bank (NAB): NAB has delayed its forecast for the first rate cut from February 2025 to May 2025, citing strong labor market performance and persistent core inflation. • Commonwealth Bank of Australia (CBA): CBA expects the RBA to start cutting rates as early as December 2024  and forecasts a total reduction of 125 basis points  by the end of 2025. • Westpac: Westpac predicts the first rate cut will occur in Q1 2025 , likely in February or March, aligning with broader economic stabilization. These forecasts highlight a cautious optimism for monetary easing, dependent on inflation trends and economic conditions. 3. Impact on the Real Estate Market The current high-interest environment has had a profound effect on Australia’s real estate market, especially in the following areas: Decline in Housing Demand • Rising borrowing costs have reduced buyers’ purchasing power. • Higher mortgage repayments have deterred many first-time buyers and upgraders from entering the market. Slower Property Price Growth • The pace of property price increases has slowed, particularly in major cities like Melbourne and Sydney. For example, Melbourne property prices grew by just 0.5%  in October 2024, with annual growth remaining flat. • Melbourne has also seen a record-high property supply, with listings reaching a 12-year peak , giving buyers more negotiating power. Reduced Investor Activity • Higher interest rates have diminished rental yields and reduced the attractiveness of property investments compared to low-risk alternatives like term deposits or bonds. 4. Opportunities with Future Rate Cuts As interest rate cuts loom on the horizon, the Australian real estate market is poised for a potential rebound. Here are some of the likely impacts: • Improved Borrowing Power:  Lower rates will reduce mortgage costs, enabling more buyers to re-enter the market, particularly younger families and first-home buyers. • Boost in Market Confidence:  Lower rates will restore confidence among buyers and investors, driving market activity. • Property Price Recovery:  Increased demand could lead to a rise in property prices, especially in high-demand areas with limited supply. 5. Strategies for Buyers and Investors To navigate the current high-interest environment and prepare for future opportunities, consider the following strategies: • Stay Informed:  Regularly monitor RBA announcements and major banks’ forecasts to make timely decisions. • Focus on High-Value Locations:  Look for properties in areas with strong long-term growth potential, such as Melbourne’s northern and western growth corridors. • Budget Carefully:  Ensure flexibility in your financial planning to accommodate potential rate changes. • Seek Professional Advice:  Work with real estate agents or financial advisors to gain insights tailored to your goals. Conclusion Australia’s interest rate policy is at a critical juncture. While high rates have temporarily dampened the real estate market, they have also set the stage for potential recovery as rate cuts become more likely. Buyers and investors should take advantage of the current environment of ample supply and stable prices while positioning themselves for future market growth. As the economy stabilizes and inflation eases, Australia’s real estate market is expected to rebound, offering exciting opportunities for buyers and investors alike. References • Reserve Bank keeps rates steady amid inflation pressures • NAB delays rate cut forecast to May 2025 • CBA forecasts first rate cut in December 2024 • Westpac sees rate cut in Q1 2025 • How inflation and employment shape RBA’s decisions Disclaimer This article provides general information and does not constitute financial, legal, or investment advice. Figures and trends mentioned are based on current data and are subject to change. Please consult with qualified professionals or refer to authoritative sources, such as CoreLogic or the Australian Bureau of Statistics, for specific advice. Core Elite Real Estate is not responsible for decisions made based on this content.

Melbourne’s real estate market is one of the most dynamic and diverse in Australia, attracting buyers from various backgrounds with unique preferences. Understanding who these buyers are and where they prefer to buy can offer valuable insights into the city’s housing trends and opportunities. Here’s a detailed breakdown of Melbourne’s key buyer demographics and their favored areas. 1. First-Time Homebuyers Profile: First-time buyers are usually young professionals or newly established families entering the property market for the first time. Budget constraints often influence their choices, and affordability is a primary consideration. Preferred Areas: • Western and Northern Growth Corridors : Suburbs such as Werribee , Tarneit , and Craigieburn  are popular for their relatively low property prices and new housing developments. These areas also benefit from significant infrastructure upgrades, including transport links and schools, making them ideal for budget-conscious buyers. • Outer Suburbs : Melton  and Point Cook  are also attractive due to their family-friendly communities and value for money. Why They Buy Here: • Affordable house-and-land packages. • Proximity to emerging infrastructure. • A chance to get a foothold in Melbourne’s property market. 2. Upgraders Profile: Upgraders are homeowners looking to move to larger homes or better locations to accommodate growing families or improve their lifestyle. Preferred Areas: • Eastern and Southeastern Suburbs : Areas such as Glen Waverley , Doncaster , and Camberwell  are highly sought after for their top-rated schools, safe neighborhoods, and strong community amenities. • Family-Friendly Suburbs : Bentleigh East , Mulgrave , and Mount Waverley  are also popular among families looking for more space. Why They Buy Here: • Proximity to top-performing schools and education zones. • Established neighborhoods with high-quality amenities. • Prestige and long-term capital growth potential. 3. Investors Profile: Investors, both local and international, are drawn to properties with strong rental yields and long-term appreciation potential. They look for areas that attract tenants, such as students, professionals, or families. Preferred Areas: • Inner City and CBD : Southbank , Docklands , and Melbourne CBD  are hotspots due to their high rental demand, especially among students and professionals. • Growth Suburbs : Emerging suburbs like Tarneit , Wyndham Vale , and Rockbank  offer opportunities for capital growth and steady rental income. Why They Buy Here: • Access to stable rental markets and tenant demand. • Future growth potential in developing suburbs. • Proximity to universities and business districts. 4. Downsizers and Rightsizers Profile: Downsizers are typically older adults or retirees looking to reduce maintenance responsibilities by moving to smaller homes, while rightsizers seek properties that better suit their changing lifestyles. Preferred Areas: • Inner Suburbs : South Melbourne , Southbank , and Albert Park  are appealing for their proximity to healthcare facilities, public transport, and cultural hubs. • Coastal Suburbs : Areas like Mornington Peninsula  and Brighton  attract retirees who prioritize lifestyle and scenic views. Why They Buy Here: • Convenience and access to essential services. • Smaller, easier-to-manage homes or apartments. • Coastal and vibrant community living. 5. Overseas Buyers Profile: Overseas buyers, particularly from Asia, invest in Melbourne properties for various reasons, such as securing assets, providing homes for their children studying in Australia, or benefiting from the city’s stable real estate market. Preferred Areas: • Prestige Suburbs : High-end areas like Toorak , South Yarra , and Brighton  are favored for their luxurious homes and proximity to elite schools. • Education Hubs : Suburbs like Box Hill  and Balwyn  attract international buyers due to their strong Asian communities and renowned schools. Why They Buy Here: • Melbourne’s reputation as a safe and stable investment destination. • Access to world-class education facilities. • Strong cultural ties in certain suburbs. 6. Young Professionals Profile: Young professionals are typically singles or couples seeking vibrant, urban living with easy access to work and entertainment. Preferred Areas: • Inner City Suburbs : Suburbs like Richmond , Fitzroy , and Collingwood  are popular for their trendy cafes, nightlife, and proximity to Melbourne CBD. • Apartment Living : Areas such as Southbank  and Docklands  offer high-rise living with spectacular views and modern amenities. Why They Buy Here: • Lifestyle-oriented locations with entertainment and dining options. • Convenience for commuting and social activities. • Apartments that fit their budget and urban lifestyle. 7. Families Profile: Families prioritize space, safety, and access to quality schools. Many are drawn to areas with established infrastructure and a sense of community. Preferred Areas: • Eastern Suburbs : Balwyn , Kew , and Hawthorn  are among the most desirable areas for families due to their exceptional schools and parks. • Newer Suburbs : Family-friendly areas like Cranbourne North  and Point Cook  also provide larger homes and outdoor spaces at a more affordable price. Why They Buy Here: • Access to quality education and childcare. • Spacious homes with outdoor areas. • Established neighborhoods with strong community support. Conclusion Melbourne’s diverse buyer demographics reflect the city’s multifaceted appeal. From first-home buyers in the outer suburbs to downsizers in coastal regions and investors in the CBD, Melbourne offers something for everyone. Understanding these buyer profiles and their preferred locations can help real estate agents, investors, and developers tailor their strategies to meet the market’s evolving demands. References • The 11 Best Suburbs to Invest in Melbourne in 2025 - Property Update • Melbourne’s top five suburbs for rightsizers and downsizers in 2023 • Overseas interest in prestige homes back on the rise • Melbourne’s best family suburbs - Realestate.com.au • Why young professionals love inner Melbourne suburbs Disclaimer This article provides general information and does not constitute financial, legal, or investment advice. Figures and trends mentioned are based on current data and are subject to change. Please consult with qualified professionals or refer to authoritative sources, such as CoreLogic or the Australian Bureau of Statistics, for specific advice. Core Elite Real Estate is not responsible for decisions made based on this content.

As we move through the final quarter of 2024, Melbourne’s property market reveals fascinating trends in both demand and supply. With record-high listings and evolving buyer behavior, the market is entering a phase of recalibration. Let’s dive into the details and understand what these trends mean for buyers, investors, and the overall market outlook. 1. Supply Trends: Record-High Listings One of the most striking developments in Melbourne’s property market is the surge in property listings. • Highest in 12 Years : In September and October 2024, Melbourne experienced a 16% year-on-year increase in new listings , marking the highest level since 2012. • Reasons Behind the Supply Surge : • Many landlords and property owners are exiting the market due to higher land taxes  and rising interest rates , which have increased their financial burdens. • A significant number of holiday homes  are being sold, as owners face financial challenges. • Impact on Buyers : This rise in listings has provided buyers with more options, reducing the urgency to purchase and increasing their negotiation power. For those looking to enter the market, this presents a rare opportunity to secure properties without intense competition. 2. Demand Trends: Steady and Sector-Specific While supply is on the rise, demand remains robust in certain market segments. • Build-to-Rent Sector Booming : The build-to-rent model  is gaining traction, driven by two key factors: • First-home buyers delaying purchases  due to high interest rates, opting to rent longer instead. • An increasing number of downsizers  moving into rental properties for convenience. • Developers are ramping up their investments in this sector to cater to growing rental demand. • Price “Reset” Offers New Opportunities : Property prices in Melbourne are stabilizing, marking a slower but steadier phase of growth. This “reset” allows first-home buyers to find more accessible entry points into the market. • Demand in Family-Friendly Suburbs : Areas with ready-to-move-in family homes are experiencing a supply shortage, keeping demand strong in these locations. 3. Balancing Act: Supply Meets Demand The interplay between high supply and steady demand is shaping Melbourne’s real estate landscape: • Buyer’s Market : The influx of new listings has created a more favorable environment for buyers, giving them leverage in negotiations. • Steady Rental Demand : Despite the cooling sales market, the rental market remains resilient, fueled by Melbourne’s growing population and limited rental property supply in certain areas. • Slower Price Growth : Melbourne’s property prices are projected to increase by 3-4% in 2024 , reflecting a balanced market rather than a runaway boom. This aligns with rising migration levels  and a lack of ready-to-move-in homes for families. 4. Market Outlook for 2024 and Beyond Experts predict that Melbourne’s property market will continue to stabilize while maintaining steady growth: • Migration Boost : Increasing migration to Melbourne will drive demand for both rental and purchase properties, particularly in family-friendly suburbs. • Continued Build-to-Rent Expansion : With rental demand growing, the build-to-rent model will remain a focal point for developers and investors. • Opportunities for Buyers : The current surge in supply creates a unique opportunity for buyers to secure properties at competitive prices, particularly as price growth remains moderate. Conclusion Melbourne’s property market is undergoing a transitional phase. The surge in listings has tilted the balance slightly in favor of buyers, while demand, especially in the rental sector, continues to underpin market activity. For first-home buyers and investors, this recalibration offers opportunities to secure properties in a less heated market environment. Meanwhile, long-term trends like migration and infrastructure development promise sustained demand in key areas. Whether you’re a buyer, investor, or developer, understanding these dynamics is essential for making informed decisions in Melbourne’s evolving property market. References 1. Melbourne homes for sale hit whopping 12-year high 2. Unexpected bargain postcodes revealed 3. ‘Reset’: Major bank flags big change ahead for homebuyers 4. Build-to-rent sector fires up 5. 2024 Market Predictions Disclaimer This article provides general information and does not constitute financial, legal, or investment advice. Figures and trends mentioned are based on current data and are subject to change. Please consult with qualified professionals or refer to authoritative sources, such as CoreLogic or the Australian Bureau of Statistics, for specific advice. Core Elite Real Estate is not responsible for decisions made based on this content.

Buying your first home is a significant milestone and a crucial financial decision. Fortunately, the Australian government offers various grants and concessions to support first-home buyers. Here’s a detailed breakdown of these policies: First Home Buyers Guide 1. First Home Owner Grant (FHOG) Each state and territory offers a one-time grant to first-home buyers purchasing new homes. In Victoria, the key details are as follows: • Grant Amount : Up to $10,000  for new homes, and up to $20,000  for homes in regional areas. • Property Value Cap : $750,000. • Eligibility Criteria : • Must be at least 18 years old; • Applicant or partner must not have previously owned property in Australia; • Property must be used as the primary residence for at least 12 months. Sources: 【1】【2】 First Home Buyers Guide 2. Stamp Duty Concessions Stamp duty is a significant cost for buyers, but first-home buyers can benefit from reductions or exemptions: • Full Exemption : For properties valued under $600,000 . • Partial Concession : For properties valued between $600,000 and $750,000 . • Eligibility : Available to Australian citizens or permanent residents for owner-occupied properties. Sources: 【1】【2】 First Home Buyers Guide 3. First Home Loan Deposit Scheme (FHLDS) • Highlights : Allows buyers to purchase a property with only 5% deposit , while avoiding Lender’s Mortgage Insurance (LMI). • Eligibility : • Annual income under $125,000 (single) or $200,000 (family); • Must be a first-home buyer. Sources: 【3】【4】 First Home Buyers Guide 4. First Home Super Saver Scheme (FHSSS) • Advantage : Save for a home deposit within your superannuation account and enjoy tax benefits. • Eligibility : • Must be at least 18 years old; • The purchased property must be for owner-occupation. Source: 【5】 Current Market Trends Recent reports highlight affordability challenges for first-home buyers, particularly in New South Wales and Victoria. However, government support programs and lower property prices in regional areas offer more opportunities for first-time buyers. Sources: 【6】【7】 First-home buyers should take full advantage of these policies while keeping a close eye on market trends and updated government incentives. Working with a reliable real estate agent can help streamline the process and ensure you find a property that meets both your needs and eligibility. Sources: 1. Victorian Government - First Home Owner Grant 2. Victorian Government - Stamp Duty Concessions 3. Australian Government - First Home Loan Deposit Scheme 4. PropTrack Housing Affordability Report 5. First Home Super Saver Scheme 6. Latest Housing Market News 7. Herald Sun Real Estate Disclaimer This article provides general information and does not constitute financial, legal, or investment advice. Figures and trends mentioned are based on current data and are subject to change. Please consult with qualified professionals or refer to authoritative sources, such as CoreLogic or the Australian Bureau of Statistics, for specific advice. Core Elite Real Estate is not responsible for decisions made based on this content.

Australia’s property investment market in 2024 has presented a mix of growth and challenges, marked by evolving trends and regional differences. According to CoreLogic’s latest research, the interplay between investor buying and selling paints a complex picture, reflecting both opportunities and hurdles for property investors across the country. Here’s an in-depth look at the key insights: Rising Investor Demand Despite Challenges Despite concerns around high interest rates, tenancy reforms, and increasing property taxes, investor demand remains robust in many regions: • National Growth in Investor Loans : New investor loans grew by 18.8%  year-over-year as of September 2024, according to ABS data. This reflects strong investor interest, especially in high-growth states like Queensland, Western Australia, and South Australia , where capital growth opportunities are abundant. • Shift in Investor Profiles : The market is seeing fewer highly-leveraged investors, with more participation from first-home buyers turning to investment properties as a way to enter the market. While these loans remain a small portion (711 loans in September 2024), it indicates changing investor behaviors. Regional Investment Activity Differences Significant differences in investment activity across states reflect the unique characteristics of regional economies: • Victoria and Tasmania:  Investor listings are above historical averages, driven by low capital growth and rising costs, such as the reduction in Victoria’s land tax threshold. In Tasmania, falling property prices and high interest rates have led some investors to exit the market. • Queensland, South Australia, and Western Australia:  High capital growth and relatively affordable property prices have fueled growth in investment loans. However, listing volumes remain below average, indicating strong demand coupled with limited supply. Regional Variations in Investor Activity Investor activity varies significantly by state, highlighting regional economic differences: • Victoria and Tasmania : Investor listings are above historical averages, driven by lower capital growth and rising costs like reduced land tax thresholds in Victoria. In Tasmania, declining home values and high-interest rates have prompted some investors to exit. • Queensland, South Australia, and Western Australia : High capital growth and affordable property prices have fueled an influx of investor loans, but listings remain below average, signaling strong demand with limited supply. Investor Selling Trends While new investment loans are rising, investor property listings are also increasing, particularly in Victoria and New South Wales: • Investor Listings in 2024 : Listings inferred to be investment properties rose to 13,000 properties nationally  in October but remain below peak levels from 2021. However, Victoria accounted for 29% of national investor listings , reflecting the pressure from soft capital growth and rising holding costs. Changing Market Dynamics The evolving economic environment has reshaped the market in several ways: • Property Types : Investors are increasingly focusing on affordable properties with strong growth potential. The rising interest in smaller investment properties, such as apartments or units, indicates a shift towards cost-effective options. • Market Stability : While growth remains strong in certain regions, the pace of new investor loan commitments has slowed since April 2024. This reflects challenges in finding affordable high-growth investments after a period of rapid property value increases. Future Outlook Looking ahead, several factors will shape the investment landscape: 1. Stable Cash Rates : While interest rates are expected to remain high, stability in the cash rate could prevent a surge in investor selling, though it may reduce new loan commitments. 2. Regional Opportunities : High-growth regions like Queensland, WA, and SA will likely continue attracting investors, particularly those seeking affordable opportunities with capital growth potential. 3. Shift to Sustainability : Investors are increasingly focusing on energy-efficient and sustainable properties, which may further influence market trends. Conclusion Australia’s property investment market in 2024 is a tale of contrasts. While rising costs and regulations push some investors out, others are seizing opportunities in high-growth regions. The diversity in investor behavior and regional dynamics highlights the importance of strategic, informed decision-making for property investors navigating this complex market. References • CoreLogic Australia , Property Pulse: Investor Market Insights 2024, 14 November 2024. • ABS Data : Australian Bureau of Statistics loan commitment data. • RBA Reports : Reserve Bank of Australia commentary on investor behaviors. For more detailed data, visit CoreLogic’s website . Disclaimer This article provides general information and does not constitute financial, legal, or investment advice. Figures and trends mentioned are based on current data and are subject to change. Please consult with qualified professionals or refer to authoritative sources, such as CoreLogic or the Australian Bureau of Statistics, for specific advice. Core Elite Real Estate is not responsible for decisions made based on this content.

With the emergence of more master-planned communities in Melbourne, the living radius for budget-conscious homebuyers has been greatly enriched. Traditionally, areas known for convenient transportation and popular lifestyles have often been out of reach for first-time buyers with limited budgets. However, master-planned communities are gradually helping many buyers break this barrier.   Lumina Live Brilliant Today, let’s explore the boutique community Lumina Townhomes, crafted by Hexa:   Lumina Townhomes offers modern townhouses equipped with all the essentials: A blend of convenience and growth potential Stamp duty savings  with move-in starting in 2025 Exceptional value with 2-4 bedroom townhouses starting from just $542,000 Perfectly located directly opposite Aurora Village, within walking distance to a large shopping center, childcare facilities, supermarkets, and key amenities. Amenities: Schools, parks, and recreational areas nearby Only 7km from Epping Plaza and Costco Close to a future train line, ensuring convenient commuting and significant future value appreciation Ample green spaces and public areas within the development, designed to offer a convenient and enjoyable lifestyle Stylish, functional, and spacious 2-4 bedroom layouts , ranging from 125m² to 219m²   Let’s take a closer look at the advantages of the Lumina project: Lumina essentials Lumina Location When it comes to real estate investment, location is everything, and Lumina does not disappoint! Located in Epping North/Wollert , just 23km from Melbourne’s CBD , Lumina is part of Melbourne’s major northern growth corridor. The project is 24 minutes from Melbourne Tullamarine Airport  and 35 minutes to the Melbourne CBD . Additionally, the government plans to construct Aurora North Station , further enhancing the area’s transport connectivity. From a lifestyle perspective, Lumina is surrounded by convenient amenities. Within a 5-minute drive  is the Epping North Shopping Centre, and within 10 minutes , you can reach the Melbourne Market and Costco, catering to all your shopping needs. Situated directly opposite Aurora Village , Lumina residents can enjoy walking distance to a large shopping center, Coles, Aldi, childcare facilities, restaurants, a post office, and essential infrastructure, making it the perfect place to live or invest. Lumina Central Future Lumina Central Lumina Master Plan Nearby Shopping & Towncentres Modern Facilities: The Lumina project, located in Epping North/Wollert , is situated in a highly livable suburb. One of the key reasons for its appeal is the abundance of well-established amenities. Wollert  is a modern, well-planned suburb with extensive infrastructure designed to enhance the quality of life for its residents. The area boasts multiple parks, sports facilities, shopping centers,  and community centers,  making it an ideal location for families to call home. High-Quality and Diverse Education Options: Nearby Education Lumina is surrounded by a range of excellent schools catering to all age groups, from early learning to higher education. Nearby educational institutions include both private and public options, such as Wollert Primary School , Epping Secondary College , and St. Monica’s College . These schools are known for their outstanding academic programs, diverse extracurricular activities, and supportive learning environments. Furthermore, the area is conveniently located near two top-tier universities, RMIT University  and La Trobe University , offering residents the opportunity to pursue higher education without the need for long commutes.   World-Class Architectural Design: Lumina offers more than just premium development; it boasts cutting-edge design from Architect Rothelowman , a leading name in Australia’s residential design landscape. Rothelowman has elevated the living standards of the Aurora Estate  with its innovative approach. For Lumina, they’ve crafted a community of 266 homes , featuring meticulously designed spaces and distinctive street landscapes. Each block offers a unique character, blending diverse forms, textures, light, and shadows to create a dynamic and vibrant neighborhood. No matter where you come from, living at Lumina ensures every day is filled with sunlight and inspiration. Rothelowman Design Lumina Design Lumina insights Lumina Design Lumina Townhomes Living Design Affordable Pricing: The Lumina project is priced between $542,000 and $750,000, offering an excellent opportunity for first-time buyers and those with a limited budget to invest in a region with significant growth potential. With high demand for rental properties in this area, the returns for investors are equally enticing. Against the backdrop of steadily rising property prices in Melbourne, the affordable homes in Melbourne’s northern suburbs remain highly attractive to many buyers.     Variety of Choices The Lumina project offers a wide range of housing options to buyers. Whether you’re looking for 2-bedroom, 3-bedroom, or 4-bedroom homes, Lumina has something to meet your needs. Lumina Floor Plan Lumina Floor Plan   Lumina Floor Plan There are more you can choose from! Government Housing Incentives: Click here to learn more about available housing incentives. 1. First-Time Buyers:  Eligible first-time homebuyers can enjoy full exemption from stamp duty, with savings of up to $40,000. 2. Investors:  Investors can benefit from stamp duty exemption on the construction portion, with savings of up to $20,000! (Valid until October 21, 2025) For first-time homebuyers with limited budgets, Lumina is undoubtedly an exceptional opportunity not to be missed. Melbourne’s northern suburbs are rapidly emerging as a booming area, with new homes being constructed at a fast pace. This region offers significant growth potential, providing buyers with an excellent opportunity to achieve capital appreciation. Lumina Display After learning so much, Lumina’s display homes are ready and waiting for you to explore on-site. Come and see what it truly looks like! For more information, stay tuned to: • Lumina Townhomes Aurora • Melbourne Property Prices • What You Need to Know Before Buying a Home Also don't forget to subscribe for more!

Located in the southern Melbourne suburb of Elsternwick, Elsternwick Gardens  is a unique residential development crafted by renowned developer Milieu. The project consists of multiple buildings, including Ripponlea Terrace  and Gordon Place , each distinguished by its unique design language and functionality. These buildings collectively offer residents a high-end lifestyle that seamlessly blends modernity with nature. Project Overview Elsternwick Gardens  stands out as one of Melbourne’s most anticipated residential communities, celebrated for its exceptional design and prime location. • Location : Situated approximately 8 km south of Melbourne’s CBD, near the historic Rippon Lea Estate . • Components : • Ripponlea Terrace : A low-rise residential complex inspired by nature, emphasizing seamless integration between architecture and landscape. • Gordon Place : Residences that combine elegance and functionality, offering modern design and convenient amenities. • Construction Plan : • Estimated Start Date : 2025 • Expected Completion Date : October 2026 Design Concept: Nature and Sustainability Elsternwick Gardens  is meticulously crafted by world-renowned design teams, including Woods Bagot , OCULUS , and K.P.D.O.  The project’s design prioritizes environmental sustainability and resident comfort. • Ripponlea Terrace : • The facade integrates greenery, emphasizing the interaction between architecture and nature. • Interiors feature natural stone, timber, and soft color palettes, providing a tactile and visually soothing experience. • Gordon Place : • Incorporates high-performance insulation materials, double-glazed windows, and energy-efficient heating and cooling systems to ensure sustainable living. • Interior design focuses on spatial flow and logical layouts, creating a balance of functionality and aesthetics. • Overall Design Features : • Biophilic design principles are woven throughout, integrating natural light, airflow, and organic materials into the architecture and interiors. • Rainwater harvesting systems, solar photovoltaic panels, and the use of 100% green energy establish the project as a model of sustainable development. Extensive Amenities Elsternwick Gardens  not only offers high-quality residences but also creates a multifunctional community for its residents. • Health and Fitness Facilities : • Fully equipped fitness center, hot and cold mineral pools, infrared sauna, and yoga studio. • Lush outdoor spaces provide ideal areas for relaxation and socialization. • Community Services and Commercial Offerings : • Premium dining options within the community cater to residents’ daily needs. • Public art installations and cultural events enhance the community’s cultural atmosphere. • Transportation and Educational Resources : • Conveniently located near Elsternwick Train Station  and Tram Route 67 , ensuring easy access to transportation. • Surrounded by prestigious schools, including Shelford Girls Grammar  and Caulfield Grammar . History and Cultural Heritage Elsternwick Gardens  is located on the former site of the Australian Broadcasting Corporation (ABC) studios, a place rich in history and cultural significance. • Rippon Lea Estate : • The nearby Rippon Lea Estate  served as a design inspiration for the project, with its iconic Victorian-era gardens highlighting the area’s historical and cultural roots. • Art and Cultural Initiatives : • Artistic installations and community events pay tribute to the legacy of the ABC studios and the local Indigenous history. Smart Homes and Future Lifestyles Elsternwick Gardens  embraces smart technology to provide residents with a modern and convenient living experience: • Smart Locks : Enable remote access and keyless entry. • Mobile Control : Manage appliances, energy usage, and video intercom systems via smartphone. • Smart Parking System : Ensures seamless vehicle access and convenience. Green Sustainability: Designed for the Future As a model of sustainable development, Elsternwick Gardens  integrates eco-friendly and energy-efficient practices into its design: • 100% Green Energy : Fully gas-free, powered by solar photovoltaic systems. • Energy-Efficient Design : Features high-efficiency heat pump systems, low-VOC materials, and double-glazed windows to minimize energy consumption. • Water Resource Management : A rainwater harvesting system is used for landscape irrigation, significantly reducing water usage. A Vision for Living: The Future and Nature Elsternwick Gardens , through the distinctive designs of Ripponlea Terrace  and Gordon Place , seamlessly blends history, culture, and modern lifestyles. Whether you value green living or seek a high-quality community, this development caters to all your needs. Discover more or book a tour to explore this urban oasis where modernity meets nature, and experience a truly unique way of life!

Are you considering purchasing an off-the-plan property in Victoria? If so, the Victorian Government’s temporary off-the-plan duty concession , introduced on October 21, 2024 , might be the perfect opportunity to make your property dreams a reality. This initiative not only aims to enhance housing affordability but also supports the real estate and construction sectors. Let’s dive into what this concession entails, answer common questions, and explore its potential impact on the market. What Is the Temporary Off-the-Plan Duty Concession? This concession is designed to reduce the stamp duty payable on eligible off-the-plan properties, making them more affordable for buyers. The key features include: • Eligibility:  Available to all buyers—including investors, companies, and trusts—of off-the-plan apartments and townhouses within strata subdivisions. • No Price Cap:  Unlike previous concessions, there is no limit on the property value to qualify. • Dutiable Value Calculation:  Buyers can subtract construction costs incurred post-contract signing from the purchase price to calculate the dutiable value. For example, if you purchase a property for $1 million, with $400,000 attributed to future construction costs, your stamp duty will only apply to the remaining $600,000. Q&A: Frequently Asked Questions 1. Who Can Apply for the Concession? All purchasers, including foreign buyers, are eligible. However, the Foreign Purchaser Additional Duty (FPAD)  applies to the property’s full value before the concession is calculated. 2. What Types of Properties Qualify? Eligible properties include apartments and townhouses with common property areas. House-and-land packages are excluded unless part of a strata subdivision. 3. Is This Concession in Addition to Other Benefits? Yes! First-home buyers and owner-occupiers can choose between this concession or existing schemes to maximize their savings. 4. How Long Is the Concession Available? The concession applies to contracts signed between October 21, 2024 , and October 20, 2025 . 5. How Can I Apply? Applications are typically managed by your conveyancer, solicitor, or financial institution through Duties Online. 6. Why Is This Concession Introduced? It’s part of a government initiative to stimulate housing construction, improve affordability, and support economic growth. Impact on the Real Estate Industry 1. Boosting Housing Supply The concession is expected to encourage developers to launch more off-the-plan projects, increasing the availability of apartments and townhouses across Victoria. 2. Improving Affordability By lowering upfront costs, the policy makes off-the-plan properties more accessible to a wider range of buyers, including first-time investors. 3. Supporting Market Stability With Melbourne experiencing a surge in property listings, this initiative may help stabilize demand and attract more buyers. 4. Critics and Concerns While the policy is widely welcomed, critics point out that the lack of a price cap might disproportionately benefit wealthier buyers and high-end developments. Why It Matters This concession represents a significant step toward addressing Victoria’s housing affordability and supply issues. For buyers, it’s an opportunity to save thousands on stamp duty. For developers, it’s a chance to attract a broader market and fast-track projects. Whether you’re an investor, a first-home buyer, or simply curious about the market, this temporary concession could shape the real estate landscape in the coming year. The temporary off-the-plan duty concession  isn’t just a financial relief—it’s a chance to be part of Victoria’s evolving housing market. If you’re considering an off-the-plan property, this might be the perfect time to take the leap! Disclaimer This article provides general information and should not be considered professional financial, legal, or property advice. Eligibility, benefits, and figures related to the off-the-plan duty concession may vary and are subject to change. Please consult with qualified professionals or the State Revenue Office Victoria for specific advice. Core Elite Real Estate is not responsible for decisions made based on this content. References and Resources To learn more, visit the official State Revenue Office Victoria page  or consult your conveyancer. Additional insights: • Herald Sun: Impact of Stamp Duty Cuts • State Revenue Office Victoria FAQs