What was different about our housing markets in 2023? As we close out 2023, the Australian property market looks significantly different from 2022 – we’ve defied all the naysayers and property pessimists and experienced eleven consecutive months of national price increases. Clearly, this strong price growth is the biggest difference to the markets of 2022 […]
The most important lesson to teach your children about money
We live in a world of consumption, where people seek immediate gratification with the latest and greatest gadgets and products as soon as they hit the shelves. Think about Apple and the ridiculously long line of people who queue for their updated iPhones! When it comes to money management and becoming rich, though, patience and […]
Short term loss-making resales continue to rise
Key takeaways CoreLogic analysed approximately 86,000 dwelling resales in Q3 2023. The incidence of profit-making sales nationally increased to 93.5%, higher than the decade average of 90.8%, and the highest rate of profitability since the three months to July 2022. The median gains from resale were $298,000 in the quarter, and the total nominal profit […]
Are You Chasing Success or Happiness?
For the next few minutes, I want you to focus on the most successful person you know (and yes, it may be you). What makes this individual successful in your mind? Professional accomplishments? Personal wealth? Now, I want you to think of the happiest person you know. Did you come up with the same name? […]
More Australians prefer suburban living – new data reveals
Have you dreamed of living a house in the suburbs? Well, according to the latest survey from Compare the Market, the majority of people across Australia, Canada and the United States would prefer living in suburbia rather than to live in a city. The survey interestingly revealed that more Australians prefer suburbia compared to the […]
I studied millionaires for 5 years and realized being ‘rich’ comes down to only two things
Being rich is really about two things. In my Rich Habits Study, I interviewed 233 wealthy individuals (177 of whom were self-made millionaires) with at least $160,000 in annual gross income and $3.2 million in net assets. I found that becoming and staying rich tends to come from two actions: Accumulating wealth Keeping the wealth you’ve […]
This week’s Australian Property Market Update
Key takeaways We’re almost at the end of the year and property prices have kept rising for almost 11 months in a row despite 13 interest rate rises, high inflation and reduced borrowing capacity. The peak-to-trough change in Australian house prices in 2022 was 9 per cent according to Corelogic, and only 4 per cent […]
Oliver’s insights – 2023 saw the return of Goldilocks, but what’s in store for 2024 for investors?
Key takeaways The five key themes for 2023 were: better than feared growth; disinflation; peak interest rates (probably in Australia too); lots of geopolitical threats but not as bad as feared; and AI hit the big time. This boosted shares and helped bonds with solid superannuation fund returns. 2024 is likely to see positive returns […]
Property Market Forecast 2023 — House Prices Predictions from Expert
Key takeaways Australia’s housing market continues to defy expectations! Despite 13 interest rate increases from the Reserve Bank of Australia, which have seen official rates rise by 4.25 per cent over the 18 months, property prices have not only stopped falling, but they have now been on the rise since early 2023. It is clear […]
Don’t Let the Status Quo Stop You
Some of us really like the status quo. Even when we have a better alternative, many of us are content to keep on doing what we’re doing. I think about this every time my wife and I swap cars. Depending on who is running what errands that day, we’ll switch between our big car and […]