GOOD MORNING FROM ELITE AGENT

After months of back-and-forth, the Greens are backing Labor’s Help to Buy and Build to Rent bills, giving the government a win. The shared equity scheme helps 40,000 families buy homes, while tax perks aim to boost rental construction. The Greens scored $3 billion for social housing but couldn’t sway Labor on rent caps or investor tax changes.

Today’s read time: 4 minutes, 3 seconds.

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MARKET WATCH

Michelle May’s 2024 wrap-up and the property trends that will dominate 2025

Looking ahead to 2025, Michelle May, founder of Michelle May Buyers Agents, predicts that segmentation, infrastructure projects, and demographic shifts will shape the market.

In defining the big issues of the past year, she said the property market in 2024 was marked by extended timeframes and limited buyer options, driven by supply constraints and investor activity.

Investors offloaded underperforming properties purchased during the boom years, while building defects in newer apartments created significant challenges for buyers.

Extended timeframes and investor activity

In 2024, buyers faced significant hurdles as supply constraints prolonged property transactions. Michelle observed that investor-owned apartments with long-term tenants often locked out first-home buyers and owner-occupiers.

Additionally, rising costs pushed investors to sell underperforming properties purchased during the market peak. “Families scrimped and saved in other areas until selling became the only option,” she said emphasising the financial strain many faced.

Building defects and buyer challenges

Newer apartments presented another challenge for buyers, with issues such as cladding, fire orders, and waterproofing defects creating financial burdens. “Strata complexes are borrowing money to take developers to court, and buyers are walking into situations where critical information is being withheld.”

These risks left many buyers vulnerable, underscoring the need for careful due diligence and expert guidance from agents.

Key 2025 trends

Michelle identified several trends likely to define the 2025 property market. Segmented markets will continue, with A-grade properties performing well while others stagnate. Infrastructure projects, such as Sydney Metro’s expansion, are also set to boost regional growth.

“Connectivity like this has the potential to transform previously undervalued suburbs,” she said. Retiring baby boomers will also influence the market, as they downsize and invest in city bolt-holes.

However, Michelle advised caution with new apartment builds, citing depreciation and high strata fees as common risks. “You pay a premium for being the first to use the kitchen or bathroom,” she explained, “but these properties often come with hidden costs.”

ICYMI, yesterday Matt Lahood, CEO of The Agency, urged agents to plan strategically for the busy calendar ahead

TOGETHER WITH REAL+

SMART SNIPPETS

Shared living grows as Aussies adapt to rising rents
As rental prices climb across the country, more Australians are embracing share housing, including a 7 per cent rise in over-55s entering the market, according to Flatmates.com.au. Sydney’s Avalon Beach now tops the list with weekly room prices reaching $570, a 90 per cent increase. Landlords are also joining the trend, with 36 per cent offering properties for shared accommodation in the past year.

Room for three million new homes
Australian cities could potentially accommodate over three million new strata units, according to new research. Melbourne leads with space for 1.2 million units, while Sydney could add 934,000 more. Most promising is that 57% of identified sites are within 2km of train stations, making them perfect for urban development.

New prompt pack targets negotiation skills for agents
What’s really driving your clients’ decisions? Samantha McLean’s latest AI Powered Agents release offers agents negotiation prompts based on Bob Moesta’s demand-side selling principles. Focusing on Push, Pull, Anxiety, and Habit forces, the pack includes ChatGPT/Claude tools for buyer/seller analysis, handling negotiations and resolving stalemates.

MOVERS + SHAKERS

Artemus Group expands Brisbane footprint
The hospitality company behind Howard Smith Wharves has acquired the former Rivoli Theatre for its new HQ. More here.

Success doesn’t rest on weekends! 
Get the latest on top agent and agency moves every Sunday with our weekly roundup in Movers & Shakers. Subscribe now.

SOUND WAVES

From gold medals to sold listings?

US Olympic gold medalist Jordan Chiles may be flipping across the floor now, but she’s eyeing a future flipping houses. In this curated listen, the gymnast who trains with Simone Biles, shares her plans to dive into real estate, saying she loves building, creativity, and design. Who wouldn’t want an Olympian negotiating their next deal?

Dive straight into the listen below or the deeper dive here.

Read the article from Architectural Digest here

AGENTS ON SOCIAL

We’ve all been there. The husband loves the home, but the deal isn’t real until the wife says, “Yes, this is the one.” Cue the suspenseful soundtrack as you refresh your phone every 10 minutes. 👰🏻‍♀️📵

Seen an Agent On Social we should include? Let us know here (email link)

Wishing you a productive day

Elite Agent is crewed by Mark Edwards, Catherine Nikas-Boulos, Rowan Crosby, Giverny Pringle, Charmagne Arrubio and Samantha McLean. We aim to uplift the real estate industry by delivering forward-thinking, hype-free news and education that fosters knowledge and fuels ambition.

Stories marked with * are sponsored, including 'Together With' and the weekday 'Movers & Shakers' sections. Interested in promoting your brand to Elite Agent’s audience? Learn more at eliteagent.com/advertise.

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