Where will the ‘Australian’ market be by the end of 2024?

As per last year where the PC forecasting results were disappointing to say the least, let’s see what the collective thoughts are for 2024.
Lots of uncertainty as always but let’s get a guide of what PC think.

I have kept the options similar to prior with only minor change in wording as prior year has risen and not fallen like 2022.

Again apologies to the regionals and the smaller capitals but will focus on Corelogic combined 5 capital cities index as the baseline.
For those of you who can’t be bothered looking it up - Dec 31/Jan 1st starting measure is 193.8.

Please vote and add your thoughts. If going to add lots of comments please vote and put your opinion on the board.
Poll open and can change your opinion until 30th January 2024.

 

Cast my early vote - Solid Growth 5-10% increase.
But I feel this won't be across all the board.
How many times can you change the vote? Is there a cut off time?

 

Really needs segmented to different states. I expect Hobart and Perth will perform very differently.

 

More interested to see if there is any indication that the rental supply is increasing.

 

Solid Growth across 5
Perth
Brisbane solid boom

 

30th Jan and you can change vote as many as you like until then (I believe at least anyway)

 

I agree 1st Perth and 2nd Brisbane will have have the boom status.
3rd Adelaide won't be far behind.
The rest of the state will battle it out for the remaining spot.

I am guessing similar repeat of 2023.

 

So far all indicatives make me think that way, so I am waiting for US election and some updates on wars as people start to forget them already?

 

"No economist ever gets fired for predicting 7-8% growth... "

 

Perth will have the strongest growth...followed by Adelaide....FNQ...darwin

Melbourne Sydney Hobart will go backwards.

Brisbane will have ok growth but nothing like last year

 

You were so wrong with Brisbane in 2023.
You will be wrong again in 2024. Keep your record going.

 

The median dwelling value in Brisbane just overtook Melbourne. Here’s why.
The median dwelling value in Brisbane just overtook Melbourne. Here's why.

@sash
I am still waiting for your prediction of Brisbane migration back to Melbourne.
Look at the annual migration chart - don't let the facts get in the way of your narrative.

If Brisbane Olympic 2032 pulls out all the champagne.
Brisbane will be recognized as a world global city.

 

You might have answered your own question....look at history of what happens to when this happens to Brissie. It does not make sense.....

It certainly looks like you are starting to get worried about holding all your properties in Brisbane. You guys were noisy about Perth not doing anything...even you now admit it is the number one market.

Sure I might be a year or two out...but Brissie will turn...you can bet on it.

Having said that I still hold 5 there.....

I have stopped listening to people who are not financially independent. Just too many opinions from people who are not successful....best thing I did. This helped me get to almost $20m at the peak...now winding down...and it is taking forever...but a good problem to have....

 

The value in Melbourne will be ridiculous if this happens.

Buy buy buy!

 

It isn't about the quantities of properties - 350k each vs 1m each.
I don't want to own many 350k properties.

 

Yes it is certainly looking that way...no offence to Brisbane....wonderful city...but it does not have international city fundamentals which Melbourne or Sydney has......

 

Hmmm......interesting....the average is like 650-700k now in my portfolio.....I think you might be out of touch....very hard to buy under $500k in most large Australian cties (top 5 population wise) of decent quality now. Some are even worth $1m plus...lets leave it at that...no point...we are in different leagues.

 

I predict Mega Boom. Both current wars ending. Crypto and shares bull market.

lol maybe it's my wishful thinking.

 

I'd say that's 2025-26... so modest growth until the lead up to that is what i'm predicting. Then big crash from 27 - 30.

 

You are probably not too far off the mark...if things escalate too much...it might be the most painful lesson people get.....