Скачать или смотреть Melbourne's Booming Property Market for 2024! What Will Happen In The Next 12 Months?

The Melbourne property market in the next 12 months presents several lending opportunities, influenced by key economic and demographic factors.

Key Factors Influencing Lending Opportunities -

Interest Rates:
Expected interest rate cuts in 2024 and 2025 are anticipated to stimulate real estate demand. Major banks predict rates to potentially reach as low as 3.6% in 2024 and 2.85% through 2025, making financing cheaper and encouraging property purchases​​.

Population Growth and Migration:
Strong population growth and high levels of migration, particularly from international students and interstate migrants, are expected to continue. Melbourne's population is projected to increase significantly, potentially surpassing Sydney by 2031​​. This demographic trend supports sustained demand for both rental and owned properties.

Property Price Forecasts:
Despite recent interest rate hikes, Melbourne’s property market is forecasted to see moderate growth. Predictions from major banks like ANZ, CBA, NAB, and Westpac indicate a 3-5.5% rise in property prices in 2024​​. This indicates a stable investment environment with potential for capital gains.

Rental Market:
The rental market in Melbourne is expected to remain tight due to high demand and low supply, pushing rental prices up. This creates opportunities for investors looking for rental yield, particularly in inner-city areas where demand from international students and professionals remains high​​.

Specific Lending Opportunities -

First-Time Buyers:
Properties valued at $700,000 or below are experiencing heightened interest from first-time buyers, presenting an opportunity for lenders to cater to this demographic with tailored mortgage products​​.

Investors:
With the rental market expected to remain strong, investors can benefit from high rental yields. Lenders can target this segment with investment property loans, especially for properties in high-demand areas like inner-city suburbs and regions with strong rental growth prospects​.

Foreign Buyers:
Increased interest from foreign buyers, particularly from China, is likely to continue. This group seeks properties in Melbourne due to its cosmopolitan lifestyle, education institutions, and job opportunities. Lenders can create specific loan products to attract foreign investors​​.

In summary, the Melbourne property market presents a promising landscape for lending opportunities over the next 12 months. Lower interest rates, strong population growth, and a robust rental market are key factors driving demand and providing various avenues for lenders to explore.

Let us know if you want to know how our other states will be performing in the next 12 months!