Latest Australian Property Market Insights by Eliza Owen
In this video, Domenic Nesci, the Managing Director at Wealthi, and Eliza Owen, the Head of Residential Research Australia at CoreLogic, share valuable insights about market trends and dynamics.
Here is a summary of the key points:
Following a period of decline, the property market has experienced a rebound, demonstrating three consecutive months of price growth. This positive trend suggests that the market has surpassed its lowest point.
Supply and Demand: There is a shortage of housing supply in Australia, both in terms of new constructions and listings. This scarcity, coupled with strong demand from first-home buyers and net overseas migration, is driving up prices.
Interest Rates: The trajectory of interest rates will have a significant impact on the housing market. Changes in rates could affect buyer confidence and the willingness of sellers to enter the market.
Regional Markets: Some regional markets are experiencing growth due to factors like net overseas migration and rental market competitiveness.
Future Outlook: The upward pressure on prices is expected to continue into the next year, with low supply levels and sustained demand. However, potential headwinds, such as mortgage rate increases and unemployment, could impact the market.
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