Property forecasts
Proptrack's property forecasts for 2024, predict prices gains of 2-5 per cent for Sydney, 3 to 6 per cent for Brisbane, and 5-8 per cent for Perth.
There are declines expected in Darwin, Hobart, and possibly in Canberra.
Source: Proptrack
Forecasts have generally been too bearish, in my opinion.
Firstly because lending is so tight that nothing much is going to get built at today's prices, turning the rental market into a modern version of the Hunger Games.
And secondly because global markets are sensing a peak in the interest rate cycle, with interest rates expected to fall over the next couple of years.
There's no good reason now why lending is being restricted with a 3 percentage points assessment buffer - if anything a massive shortage of housing adds to financial stability risks later.
This is a Goldilocks scenario for asset prices, including stock markets around the world, which will very likely pump to fresh highs in 2024.
CBA expects the unemployment rate to revert to 4 per cent by mid-2024 - following indicators such as Roy Morgan's survey and SEEK job advertisements - but Australia is expected to avoid a damaging recession.
---
P.S. Whenever you’re ready…here are 4 ways I can help you manage your own money and go next level wealth:
- Boom or Bust in 2023 – 20 minute online workshop for investors
Register for my next free online training - Boom or Bust? How to change your investment plan for 2023 - book in here
You also download a free copy of my e-book The Only 6 Ways to Become Wealthy here.
- Subscribe to our Top 10 Podcasts for Investors
Listen in to our podcasts
The Australian Property Podcast is one of Australia's biggest business podcasts.
And our enormously popular Low Rates High Returns Show is also available on Spotify.
- Subscribe for my free daily blog
Subscribe for my free daily blog with over 3.4 million hits here.
You can also catch up with me daily on Twitter here, where I'm active daily and have over 13,300 followers.
- Work with me privately
For a limited time you can book in a free diagnosis call with me here.
