Northern Beaches
Bricks & mortar once again proved why it’s Australia’s favourite asset class, with Cotality’s national Home Value Index rising 0.7% in March, while the S&P/ASX 200 endured a difficult start to autumn, weighed down by escalating conflict in the Middle East, persistent inflation, and higher interest rates, with the benchmark index falling sharply by 7.8% over the month.
Heading the charge was Perth with a monthly growth of 2.5% and a robust 7.3% for the quarter. Brisbane was next best with monthly value growth of 1.8% and a quarterly increase of 5.1%. Our northernmost capital, Darwin, finished March with growth of 1.6% and a quarterly increase of 3.4%.
Regional values are exhibiting resilience, with values rising 1.1% in March and 3.3% for the quarter. Like Perth, regional WA stands out for the strongest capital gains, with values up 2.2% in March and 6.2% over the quarter.
In an April blog post, we consider the question: “Is it a good time to downsize the family home?” The answer is a resounding yes, according to a report from Muval, which shows homeowners can unlock significant equity by simply shifting to a home in the same suburb with one less bedroom.
For many empty nesters, the decision to downsize is often driven by financial and lifestyle factors, including a desire to reduce maintenance costs or free up additional funds for retirement.
If you’re considering a real estate move this autumn, your local Raine & Horne Northern Beaches sales agents are ready to help. Please call us today on 9999 0800.