Market Insights
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Stepping into the post-pandemic era, push and pull factors remain at an ease, with low levels of population movement across the globe. With a predicted decrease of overseas buyers and immigrants to Australia, the prices of homes, new or established, will likely see a decline and remain at a low over the next two years.
Australian locals, and their need and demand for owner-occupied housing, will determine the trend for the future of the property market, and drive the fluctuations of prices. However, given the inflating costs seen in the construction industry, for both material and labour, new house prices will unlikely see a fall.
Yet, this does not rule out the fact that, should the RBA in the coming six to twelve months control inflation at a low through interest rate increases, the prices of select new homes could see a decline in price.
