Economic Updates

It was a fitting ending to a pretty remarkable 2017 financial year.

Any talk of the property market easing appears to be premature as we have just posted our second strongest month ever for the Ray White Group.

After our record-breaking March, and amidst so much commentary ‘talking down’ the market, we keenly awaited our April figures.

Sydney's growth must be spilling north because Newcastle is quickly becoming one of Australia's most promising cities.

In the five years ending 2021, this burgeoning economy is expected to nearly double it's growth rate from 2.4 per cent to 4.6 per cent.

The city's growth is proof of this - data from the most recent census shows that over 2015 and 2016 its population increased by over 100,000, or 2.4 per cent.

It’s now famous in Ray White - a new blistering record of $4.7 billion in unconditional sales highlighted the remarkable strength of the Australiasian property markets that recovered so strongly after the GFC of the late 2000s.

Brisbane's economy is on the up and up, expected to grow by more than 50 per cent over the next 15 years. It's the engine room of Queensland, a city that's forecasted for great things.

Rarely has there been such conjecture in public commentary about the prospects for the real estate market in 2017.

After a record-breaking 2016 in so many of our markets, we keenly anticipated our January figures to see if our momentum would continue into 2017. So our result of $2.3 billion was well received, nicely up on our January 2016 result.

The capital city's median prices continued to climb, demand remained at a high nationwide, the Official Cash Rate (OCR) dropped to record lows and the construction boom continued in full swing.

Auckland's house prices cracked the $1 million mark, supply struggled to meet demand and prices in most major cities increased - to mention just a few of the major developments.