The market correction we experienced during FY23 was both short and sharp, with Australian home values returning to growth much earlier than expected despite continually increasing interest rates.
So what market trends are driving the latest cycle?
A shortage of stock for sale is driving the commencement of this new market cycle which is a trend being seen across the entire East Coast market, led by Sydney.
Returning migrants are turbocharging demand, with many buying instead of renting because the rental market is so tight and weekly rents have risen exponentially. What other pathways to home ownership are we seeing for migrants?
On the supply side, dwelling approvals trended lower in FY23 due to high construction costs and ongoing labour shortages. How will this impact the forever home dream?
Download your copy of The McGrath Report 2024 now to find out.
What you will find in The McGrath Report 2024
– Four key property market trends
– Analysis of the residential property market in Sydney and surrounds, Melbourne and surrounds, Brisbane and surrounds and Tasmania
Enter your details below to get your free online copy of The McGrath Report 2024 & John McGrath’s top suburb picks.
Plus, find out the suburbs John McGrath sees as the top picks for people on the hunt for property across Sydney and surrounds.
John McGrath – Two benefits of using a mortgage broker that you don’t know about
John McGrath – What all buyers should look for
John McGrath – Price gap between city and regions narrows
Recent Comments