The last couple of years have been a real “wait and see” period for the property market. We’ve come out the other end of an unprecedented global event with Covid and then it seemed that interest rates woke up and took off at a sprint and now we’re heading into a settling period where prices will be “correcting”. That is, they’ll be getting back to the regular forces of supply and demand.
Given that the demand component of this equation is currently strongest, and forecast to further strengthen during 2024, property experts are predicting that property prices will be continuing to increase throughout the year.
Leading property researcher, CoreLogic has recorded an increase of 7.6% in dwelling values nationally so far this year and ANZ senior economist Adelaide Timbrell is predicting a further increase of 3-5% during 2024. Westpac economists are sitting firmly in the middle with a predicted 4% increase nationally.
What this tells me is that now is a good time to lock in an investment property at 2023 prices.
Given that we’re heading into that crazy time of year, we’re here to do the searching for you and present you with a shortlist of options. All you need to do is arrange a time to chat so we can help develop your brief and we’ll take it from there.
The icing on the cake is that economists from the top 4 banks are predicting that interest rates will start to drop mid next year – so that’s something to look forward to.
Win win win!