W&D Finance February newsletter & property market update

Hello, and welcome to our February newsletter.

W&D Finance’s Prospectus No. 26 is now available to view. If you would like to read or download click here.

Australian Residential Property Market

February Figures

Core Logic has released its latest figures for the Australian residential property market. Here is an overview:

Nationally

• In the three months leading up to January 2024, national home values rose by 1%.

• Despite this quarter’s modest increase, over the 12 months to January 2024, national home values have risen by 8.7%.

• The value of regional homes is increasing faster than capital cities (1.2% compared to 1%).

• Brisbane, Adelaide and Perth home values are at record highs.

 Closer to home

• In the three months to January 2024, home values in regional Victoria have increased by 0.3% but remain down at -1.3% over the past year.

• In the past 12 months, changes in sales volume in regional Victoria contracted, sitting at -9.4%.

• In regional Victoria, the median number of days to sell a home is 54; the previous 12 months was 41. 

Reserve Bank Australia (RBA) 

• Held the cash rate steady at 4.35% in February. 

• Progress is being made on inflation, but it remains high. 

• Inflation forecasts have been downgraded to 3.2% by the end of 2024.

In summary, despite the stubborn interest rates, the Australian property market continues to grow and perform well. Regional Victorian sales are sluggish compared to the national average over the past 12 months. Locally, this may provide an opportunity for people, especially those looking to enter the property market.  

Photo courtesy of Tom Rumble

W&D in the community

W&D Finance swung into action for the Ballarat Renault McCallum & BRI Corporate Golf Day.

Last Friday, W&D Finance was proud to partner with local organisations and take part in the Ballarat Renault McCallum & BRI Corporate Golf Day.

Whilst W&D Finance did not make the winners list, it was a great day filled with camaraderie and goodwill. Congratulations to Macneil Group, who took home the trophy.

This year, the funds raised will support building two new houses for people with disability in Lucas Grange, Ballarat. Construction is planned to begin later this year.

We look forward to continuing to support this beneficial community event.

Pictured: The W&D team - Rob Cunningham, Trent Beames, Paul Burke and John Creek.

Basketball Ballarat

Over the last couple of weeks, junior and senior basketball competitions have resumed for the summer.

W&D Finance wishes all our local basketball players luck for the rest of the season. We are proud to sponsor this organisation that drives basketball in our community. It is fantastic to see this sport flourishing in Ballarat, from our littlest juniors to the elite seniors. 

Grow your Wealth with W&D

Diamond Investment Account

6% for 10 months

Diamonds might be forever, but this offer won’t last!

Contact us to learn more about our Diamond Investment Account and take the first steps towards a brighter future.

T&Cs apply. Interest paid at maturity. Min. investment $150,000

Offer ends 31 March 2024

Loans

We offer a range of mortgage loan products with competitive interest rates, head to our website to see our latest loan offers.  

And remember, we’re not a bank, we are your financial partner. This means unlike at a bank, you will talk directly to our decision-makers, giving you a tailored financial solution and a faster turn-around.