Daily Buzz: Saturday, 2 March
By
PropertyBuzz, your daily dose of property news.
Australia’s Auction Market Braces for Downswing, Is housing hurting our wellbeing? And a reminder on the suburbs earmarked for growth across the coming year.Â
Welcome to Property Buzz! I’m Grace Ormsby
Today is Saturday the 2nd of March.
– Auction numbers in Australia are set to decrease by 7 per cent this week, following the busiest auction week of the year, according to CoreLogic data.
– Melbourne will lead with 1,300 scheduled auctions, a 10 per centdrop from last week, but still 40% more than the same time last year. Sydney follows with 951 auctions, a 3.4per cent decrease.
– Auction numbers are predicted to drop further next week due to public holidays, with preliminary numbers suggesting only 1,700 homes will be auctioned across the combined capitals.
The NAB Australian Wellbeing Index for Q4 2023 reveals Australian wellness at its lowest since COVID-19, driven by financial stress rather than global existential concerns, with stress levels now at their highest since 2016.
– Financial stress surged in the last quarter of 2023, influenced by the rising cost of living.
– The report highlights a complex relationship between finances and wellbeing, noting that income levels and housing situations significantly influence stress levels and overall happiness, with home ownership strongly correlated with higher wellbeing.
– Wellbeing varies across income groups, with those earning $50,000 to $75,000 and over $200,000 reporting higher levels of wellbeing, while the $100,000 to $200,000 income bracket feels the most anxiety.
and a reminder that, Smart Property Investment has unveiled its Fast 50 2025 report, which reveals the Australian suburbs best placed to see capital growth over the coming year.
– Compiled with input from trusted property experts and detailed data analysis,–this year’s report is West Australia heavy, with Perth spouting its potential as an investor haven.
South Australia, Queensland, Victoria and New South Wales suburbs have also made the list.
– Go to Smartpropertyinvestment.com.au to download the report and see if your suburb made this year’s list!
That’s Property Buzz for today.
See you again next week for your daily dose of Property Buzz.
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