QMI: December 2022

“Market conditions remain soft with the combined impacts of higher interest rates, inflation and cost of living pressures driving consumer and buyer sentiment lower.

We expect overall market activity to remain soft over the coming months as the impact of higher interest rates flows through.

There is considerable debate on how many more interest rate increases will follow with a range of factors at play.

Overall, however, it appears likely that the RBA will increase interest rates further.

While the immediate and short-term outlook remains challenging, the medium to long term outlook for the residential land and broader property markets remains robust being underpinned by continued improvements in property market fundamentals and steady economic and employment growth.

Population is rapidly rebounding driven by the return of overseas migrants.

Vacancy rates remain at near record lows.We consider that housing shortages in key metropolitan and regional markets remain significant and will continue to increase.”

‍

Julian Coppini

Chief Executive Officer - Project Marketing