Residential Real Estate - Australia & Oceania

The Residential Real Estate market market in Australia & Oceania is expected to reach a value of US$7.00tn by 2024.
This projection indicates that the market is anticipated to grow at an annual growth rate (CAGR 2024-2029) of 2.01%.
Consequently, by 2029, the market volume is estimated to be US$7.73tn.
In a global context, China is projected to generate the highest value in the Real Estate sector, with US$112.9tn in 2024.
The demand for luxury waterfront properties in Australia is soaring, driven by the country's stunning coastal landscapes and high-end amenities.

Definition:

The residential real estate market covers the leases and transactions of residential properties. Residential real estate leases refer to the market where landlords and tenants enter into agreements for the rental of residential properties, such as apartments, houses, and condominiums, while residential real can be defined as buying, selling, or transfer of ownership of residential properties.

Structure:

The residential real estate market covers real estate transactions and leases, and the section, residential real estate leases, is divided into apartment and house leases.

Additional information:

The market contains the following KPIs: real estate value aggregated for all countries and regions, average real estate value, real estate transaction revenue, number of real estate sold, number of leased and owned real estate, average room per resident, and dwelling type shares. The dwelling type shares comprise the share of the population that lives in houses and apartments. These shares are displayed for real estate owners and for real estate renters as well.

Residential real estate transactions
Residential real estate leases

Real estate agencies
Construction companies
Accommodation services, such as Airbnb
Commercial real estate leases and transactions
Publicly owned buildings used by the local government
Buildings used for public health care services

The Residential Real Estate market in Australia & Oceania is experiencing significant growth and development.

Customer preferences: Customers in Australia & Oceania have shown a strong preference for residential properties, with a particular focus on single-family homes. This preference is driven by the desire for larger living spaces and increased privacy. Additionally, customers in this region value properties with outdoor spaces, such as gardens or balconies, which provide a connection to nature.

Trends in the market: One of the key trends in the Residential Real Estate market in Australia & Oceania is the increasing demand for sustainable and eco-friendly properties. Customers are becoming more conscious of their environmental impact and are seeking properties that incorporate sustainable features, such as solar panels, rainwater harvesting systems, and energy-efficient appliances. This trend can be attributed to a growing awareness of climate change and a desire to reduce carbon footprints. Another trend in the market is the rise of mixed-use developments. These developments combine residential, commercial, and retail spaces in a single complex, creating a vibrant and convenient living environment. Customers are attracted to the convenience of having amenities such as shopping centers, restaurants, and entertainment options within walking distance of their homes. This trend is also driven by the desire for a sense of community and the opportunity to interact with neighbors.

Local special circumstances: One of the unique characteristics of the Residential Real Estate market in Australia & Oceania is the presence of coastal properties. With its stunning beaches and picturesque coastlines, this region attracts customers who are looking for properties with ocean views and beach access. Coastal properties are highly sought after, especially by those seeking a luxurious and relaxing lifestyle.

Underlying macroeconomic factors: The strong economic growth in Australia & Oceania has contributed to the development of the Residential Real Estate market. The region has experienced a stable economy, low unemployment rates, and increasing disposable income, which has allowed more people to enter the property market. Additionally, low interest rates have made it more affordable for customers to borrow money and invest in residential properties. Furthermore, population growth and urbanization have also played a significant role in the development of the market. As more people move to urban areas in search of better job opportunities and amenities, the demand for residential properties has increased. This has led to the construction of new housing developments and the revitalization of existing neighborhoods. In conclusion, the Residential Real Estate market in Australia & Oceania is experiencing growth and development driven by customer preferences for single-family homes, sustainable properties, and mixed-use developments. The presence of coastal properties and the region's strong economy and population growth have further contributed to this development.

Data coverage:

Figures are based on total and average value of residential real estate, residential estate transactions and leases.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market, for instance, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.

Additional Notes:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

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Residential Real Estate - Australia & Oceania

Value

Volume

Analyst Opinion

Transaction Value

Revenue

Household Type

Methodology

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