With housing price expectations now rising, this usually (well, always) portends rising prices ahead.
Dr. Alex Joiner of IFM maps the historical relationship from Westpac's consumer survey:
Separately, CoreLogic reported a reacceleration of rents over Q1 2023, with combined capital city vacancy rates falling to their lowest ever level at just 0.9 per cent.
This isn't going to get better any time soon, with student visa arrivals just one component of immigration which is exploding to record highs.
Chart via MacroBusiness:
Interestingly this corresponds exactly with what Chris Bates discussed on this week's 2-Sense property segment on the Australian Property Podcast - that the best buying conditions were in October/November last year.
Expectations for prices have rocketed since then with the index up +43 per cent.
