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This is why the property market isn’t slowing down

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According to the PropTrack’s Property Market Outlook August 2023 Report, the national property market in Australia is expected to witness an increase of up to 5% by the end of 2023.

The report analyzes consumer behavior by extracting property market data from the 12.1 million Australians who visit realestate.com.au each month. It indicates that the property prices have already experienced a 2.3% increase in the first six months of 2023.

Despite rising interest rates and relatively low wage growth, the property market has shown resilience this year.

The report attributes the price growth to a lack of supply of available properties for sale, leading to buyer competition. The forecast suggests that larger capital cities are expected to witness greater growth.

Houses in Brisbane and Adelaide have experienced the strongest gains so far, and the report projects prices to increase between 3% and 6% across the combined capital cities on an annual basis.

With the exception of Hobart and Darwin, all capital cities are expected to see positive price growth in the remainder of 2023.

Looking ahead, the report acknowledges challenges in forecasting the direction of the property market beyond 2023.

2024 uncertainty

A significant number of fixed-rate borrowers’ mortgages are set to expire from current interest rates of around 2%, potentially resetting to around 6%, which could impact borrower repayments in 2024. The outlook for 2024 remains uncertain, and the report forecasts modest price growth in that year.

Unemployment remains a key risk to the property market’s stability, as people’s ability to pay off housing largely depends on having a job and income. Official forecasts predict a rise in the unemployment rate, although the jobs market has been resilient so far.

The report highlights the need for a supply-side response to improve affordability, emphasizing the importance of structural fiscal and monetary policy reform in shaping the property market’s future.

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Apple Music’s controversial top 10 albums of all time

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Apple Music has released its highly anticipated “100 Best Albums of All Time” list, with the top 10 rankings causing a bittersweet symphony of destruction for some music lovers.

The list was curated by a panel of experts and based on various factors including cultural impact, critical acclaim, and commercial success, with the aim to celebrate the most influential and timeless albums across genres.

As reported by the official Apple Music Newsroom blog post, the top ten best albums of all time are the following:

10. Lemonade (2016), Beyoncé

9. Nevermind (1991), Nirvana 

8. Back to Black (2006), Amy Winehouse

7. good kid, m.A.A.d city (2012), Kendrick Lamar

6. Songs in the Key of Life (1976), Stevie Wonder

5. Blonde (2016), Frank Ocean

4. Purple Rain (1984), Prince & The Revolution

3. Abbey Road (1969), The Beatles

2. Thriller (1982), Michael Jackson

1. The Miseducation of Lauryn Hill (1998), Lauryn Hill

In other news, Apple recently became the first company to hit a $3 trillion stock market value, before falling just below that milestone, as reported by Reuters.

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How can we support a more eco-friendly future?

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With a $23 million commitment for a national circular economy and $1.3 million for net zero transition guidance, Australia is advancing towards sustainability.

Funding Futures is a weekly TV show on Ticker, hosted by Mike Loder and Steven Maarbani from Venture Crowd, that delves into the dynamic and evolving world of venture crowd-raising.

In this episode, we are joined by Cameron Hope, Founder of CEO of Hirehood. #trends #funding futures

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The integral step to entering the property market

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In the debate surrounding housing affordability, a divergence emerges between media portrayals and stark realities. While the crisis is often depicted as insurmountable, critics argue that individuals tend to blame external factors rather than taking personal responsibility.

Despite challenges, advocates urge a shift from despair to possibility, emphasizing personal agency and proactive pursuit of homeownership goals. Thus, while acknowledging the hurdles, reframing the discourse empowers individuals to navigate the housing market with resilience and determination, making the dream of owning a home a tangible reality for those willing to seize it. #Trending #Featured

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