If you are waiting for the right time to buy property in Australia, you would have to save $1,620 on average per week to keep up with property price increases. That’s right – on average the Australian property price increases by $1,620 per week.
From January 1st 2023 to January 1st 2024 we saw property prices increase in value by an average of more than:
- $125,000 SYD ($2,400 per week)
- $103,000 BNE ($2,000 per week)
- $100,000 PER ($1,900 per week)
- $67,000 ADE ($1,300 per week)
- $27,000 MEL ($500 per week)
According to the latest ABS figures, the average Australian household saves approximately $192 per week. So if you are waiting or trying to save more, chances are you will never keep pace with the property market.
We read, hear and listen to so many experts with predictions on the property market – property commentators, bank economists and the media. But we see that they consistently get their predictions WRONG.
In this episode, we talk about what 2024 holds for property investors, featuring insights from Jay Pace from Providence Property about building intergenerational wealth.
We discuss the significance of understanding market cycles, the real cost of waiting too long to invest and the benefits of strategic investments in different areas of Australia. If you’re looking to make your first investment and create a legacy for your family, tune in to this episode!
Videos referenced in our chat:
Jay Pace talks about:
About Aaron:
Aaron-Christie David founded Atelier Wealth, a Mortgage & Finance Association of Australia (MFAA) approved Mortgage Broker. Aaron’s focus is clear – supporting property investors to make confident decisions to build their property portfolio. He has been recognised in the MPA Top 100 Broker rankings for the last three years.
With over 10 years of financial services experience, with a career spanning Wizard Home Loans and Commonwealth Bank, Aaron’s decision to become a broker was to help more Australians fearlessly buy investment properties to achieve intergenerational wealth.
About Jay:
Jay Pace, a seasoned professional in the investment industry, launched his career in 2005 as a licensed derivatives broker, trading futures on the Australian Securities Exchange. With 10 years of experience managing substantial client funds in both domestic and international markets, Jay honed his expertise as a strategist in shares and derivatives, with a keen focus on exchange-traded options.
His passion for investment steered him towards property options, where analysing market trends enabled him to build a portfolio for himself. Since joining Providence in 2014, Jay dedicated his expertise to guiding clients toward achieving their wealth generation goals through strategic property investments.
Connect with Aaron:
Visit the website: https://atelierwealth.com.au/
Follow the Australian Investment Property Podcast’s Official Instagram account:
https://www.instagram.com/aupropertyinvestmentpodcast/
Follow Aaron on Facebook:
https://www.facebook.com/aaronchristiedavid
Follow Aaron on LinkedIn:
https://www.linkedin.com/in/aaronchristiedavid/
Subscribe to Atelier Wealth’s YouTube Channel:
https://www.youtube.com/@atelierwealth_au
Connect with Jay:
Follow Jay Pace on LinkedIn:
https://www.linkedin.com/in/jay-pace-3054807/
Follow Providence Property’s Facebook:
https://www.facebook.com/providencepropertygroup
Follow Providence Property’s Instagram account:
https://www.instagram.com/providencepropertygroup/
Visit Providence Property’s website:
https://providenceproperty.com.au/
