QMI: September 2022

"Higher interest rates, cost of living pressures, weaker consumer and buyer sentiment and well-publicised construction industry challenges continue to drive residential greenfield property market conditions.

Leading indicators, such as enquiries, suggest that the short-term outlook remains the same with demand expected to remain moderate over the coming months.

However, 2023 is expected to be a year of consolidation and gradual recovery.Underpinning this outlook is the expectation that a range of factors will continue to shape market sentiment and underlying market fundamentals.

These factors include low unemployment (although increasing), the acceleration of population growth (driven by the return of overseas migrants) and growing housing shortages."

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Julian Coppini

Chief Executive Officer - Project Marketing