- October 19, 2023
- Posted by: Rogers Property Group
- Categories: Australian Property Market, Brisbane Property Market, Gold Coast Property Market, Melbourne Property Market, Perth Property Market, Property Advice, Property Investment, Queensland Property News
For those of you that think property may be dropping in value and waiting to get in, think again. Australia’s property market passes $10 trillion value for August 2023 caused by steady valuation increases across the capital cities.
While many people sit of the sidelines hoping that prices will drop due to increasing interest rates, values have increased consecutively for the last 6 months from April.
The demand for housing doesn’t not appear to be slowing down due to lower numbers of people sharing accommodation and net migration increasing. This combined with record low supply means that competition for property is very high.
With a lack of stock coming onto the market and migration inflows set to break 450,000 people we can assume that prices are not going to slow down any time soon.