Despite rapidly rising interest rates and strong population growth, a lack of homes coming to market and overall housing shortages led to big increases in both prices and rents across Australia in 2023.Despite many predictions of a catastrophic fall in house prices in 2023, they did in fact move in the opposite direction. Leading the way has been Perth but the combination of strong population growth and a shortage of homes was enough to combat rising interest rates. As interest rates head close to peak, it is expected that price growth will continue.
The Greens will vote for the Albanese government’s Help to Buy and Build-to-Rent housing bills, ending a long-running standoff that the government hopes will help homebuyers and renters. Click here to read more.
Renting has plenty of advantages over buying. The most obvious is that financially it’s a much more affordable option as there is no need for a big house deposit. Click here to read more.