May 20, 2024

What Are the Potential Property Market Trends in Australia?

The Australian property market is continuously evolving, influenced by a variety of economic, social, and environmental factors. In 2024, several key trends are shaping the landscape. For investors, homeowners, and industry professionals, understanding these trends can provide valuable insights for navigating the market. This article explores some of the prominent trends expected to impact the Australian property market.

Increasing Demand for Affordable Housing

The demand for affordable housing in Australia continues to rise. With the country's population growth and ongoing housing affordability issues, there is a significant need for developments that cater to lower-income households. Government initiatives and incentives aimed at promoting affordable housing projects are expected to play a crucial role in shaping the market.

Growth in Sustainable and Eco-Friendly Developments

Sustainability is becoming a major focus in the property market. Developers are increasingly incorporating eco-friendly designs and materials into new projects. Energy-efficient buildings, green spaces, and sustainable urban planning are gaining popularity among buyers who prioritise environmental responsibility. This trend is likely to influence both residential and commercial property markets across the nation.

Rise of Specialist Disability Accommodation (SDA)

Specialist Disability Accommodation (SDA) is gaining traction in Australia. With the National Disability Insurance Scheme (NDIS) providing funding for SDA, there is a growing market for properties that cater to people with disability. These properties are designed to meet specific accessibility needs and provide high-quality living environments. Apollo Investment specialises in NDIS property investment, offering comprehensive solutions for investors looking to enter this promising market.

Relocating for Lifestyle

In recent times, there has been a significant shift towards lifestyle-focused locations. Driven by the desire for greater space and the impact of COVID-19, many people are seeking a change of scenery, whether it be a sea change or a tree change. While this trend is expected to continue into 2025, the flow of residents moving out of major cities may slow slightly as life continues to returns to normal. Additionally, there could be a resurgence in the city apartment market, offering a blend of lifestyle properties and urban living.

Working from Home

The embrace of remote work over the past two years has transformed housing preferences. Many Australians continue to seek homes with dedicated office spaces or separate study areas. Although the return to offices happened a while ago, hybrid working models — splitting time between home and the office — are likely to sustain the demand for properties that accommodate flexible work arrangements.

Liveable Spaces

The importance of liveable spaces has grown significantly. Features such as balconies, patios, larger backyards, and additional storage are highly sought after. Many homeowners are leveraging the increased equity in their properties, driven by price rises, to move to homes that better suit their needs. This trend of enhancing living spaces is set to persist.

Property as a Valuable Asset

Property continues to be a fundamental aspect of the Australian dream, even amidst the current high interest rates and cost of living challenges. Despite these economic pressures, property remains a popular financial asset. 

Final Thoughts

The Australian property market is poised for dynamic changes. From the increasing demand for affordable housing and sustainable developments to the rise of SDA and the popularity of lifestyle relocations, there are numerous opportunities for those involved in the market. Apollo Investment, with our expertise in NDIS property investment, is well-positioned to help investors navigate these trends and build high-yielding portfolios.

For more information on how to capitalise on these market trends, get in touch with Apollo Investment today and explore the possibilities in the evolving Australian property landscape.

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