The upcoming financial year may prove to be a highly profitable one for property investors, as a new report forecasts property prices in several regions hitting new record highs over the next 12 months.Domain’s latest Forecast report anticipates a “well-established and steady recovery” for the Australian housing market, with select capital cities anticipated to fully recover from the 2022 downturn.
“Following a financial year of elections, interest rate rises, and initial signs of a recovery, we know that people are closely watching what’s to come for the housing market,” Dr Nicola Powell, Domain’s chief of research and economics, said. According to Domain figures, the value of Australia’s housing market fell by 5 per cent across capital cities in 2022. The two biggest cities were at the forefront of the nationwide housing market decline, with Sydney dropping by -10.9 per cent and Melbourne down -5.9 per cent during the period. https://www.smartpropertyinvestment.com.au/research/24808-which-markets-will-hit-new-record-highs-in-2024
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