Real Estate
2025 forecast: Another good year ahead
By Jo Kennett
IT SEEMS like everyone is waiting for interest rates to drop, and while the market has slowed, agents are still expecting good returns and growth in 2025.
Housing is the largest component of the Consumer Price Index (CPI), around 25 per cent of the overall measure of inflation. Changes in property prices, such as rents and the cost of new homes, renovations and repairs, have a significant impact on inflation.
So the more rents rise, the more rents rise, as investors try to recoup the increase in interest rates, which is kind of nuts really and a vicious cycle.
In June 2022, the yearly change in the CPI’s housing component was nine per cent, its second-largest increase.
It still defies belief that Reserve Bank head Philip Lowe let headline inflation reach 6.1 per cent until the day before the 2022 election, before increasing rates from 0.1 per cent to 0.35 per cent. Now analysts say there is not much chance of a decrease until mid-2025 if we get one at all next year, though inflation has halved since then and other economies around the world experiencing high inflation started cutting in 2024, knowing cuts take some time to flow through to the economy.
Still, local agents are expecting a decent year ahead.
McGrath Estate Agents
Coolangatta/Tweed Heads
McGrath sales agent Rachael Ford says they are expecting a strong start to 2025.
“Most of the experts are expecting more properties to come to market, which will provide more choice and this should stabilise prices and give buyers more opportunity,” Rachael said.
“I’m not an expert on interest rates, however the experts that I follow suggest we may see a modest interest rate decrease before June
2025.”
Schmith Estate Agents
Schmith’s principal Justin Schmith believes interest rate cuts are possible, but “they won’t do too much.”
“More annoying legislative reforms in both NSW and Queensland markets will make things hard to predict, with nothing negative, but nothing positive,” he said.
“The Gold Coast is now a city therefore has spilled over into adjacent regions such as the Northern Rivers.
“The Gold Coast is slowing down but still strong overall and finally (and overdue) the market is noticeably slowing giving people time, particularly buyers, to breathe and weigh up their options.
“However a good property, prepared to meet the market will sell quickly and still fetch good results.”
DJ Stringer
Principal David Stringer thinks the market in 2025 should continue its strong run “however we do feel prices may stabilise after the first quarter.”
David said he isn’t expecting an interest rate rise early next year.
“No, not at all, we may however see a rate cut mid-year,” he said.
Northern Rivers Property Group
Paul and Adrianna from NRPG are expecting to see some interest rate reductions next year.
“There will be more confidence in buyers, more offers made and a natural increase in prices,” they said.
“We don’t believe the market will reduce at all.
“So it is definitely a great time to buy, right on the cusp of steady prices and interest rates about to reduce.
“Check out www. northernriverspropertygroup.com. au for some beautiful properties absolutely showcasing our incredible area.”
You can also check out what our other amazing agents have on offer and with the market slowing for the festive season, it might be just the time to snap up a bargain.
Tweed double take
Six of the ten northern NSW towns — from Forster to the border — where house prices have doubled in the last decade are in the Tweed Shire, according to research from Domain.
Byron Bay tops the list with its median house price increasing 280.6 per cent over the 10 years to June, with Casuarina, coming in second with a 185.8 per cent rise to a median of $1,815,000.
Kingscliff jumped 172.6 per cent
to $1,627,500, and Pottsville 168.8 per cent to $1.25 million rounded up the top four.
Bilambil Heights at number seven jumped 147.1 per cent to a median of $1,050,000, with Tweed Heads West at number ten rising 142.4 per cent over the decade to $875,000 (much of that the unit market around the Kennedy Drive area which was pretty cheap prepandemic).
Murwillumbah is up there at number 13, with a 134.9 per cent increase to $875,000 with Tweed Heads South next at $750,500, a 130.9 per cent increase.
The other Tweed suburb that makes the list at number 20 is Banora Point at $950,000, an increase of 117.8 per cent.
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GIANETTA TAMMY KIM
