Property price growth slowed as year ended, so what's in store for 2024?
National property prices rose more than 8 per cent in 2023 but showed signs of slowing as the year went on, so where should property investors be looking in 2024?
A shift towards more moderate price growth may be a hallmark of 2024 but an array of factors are likely to prop up prices nationally. (Image source: Shutterstock.com)
The Australian property market’s rollercoaster ride of the past few years is levelling out after the incredible surge of 2021 and subsequent retraction in 2022.
The 8.1 per cent increase in dwelling values in 2023 still represented a solid return that exceeded the high inflation rate that persisted for much of the year, but was less dramatic than the 2022 price falls of 4.9 per cent and the previous year’s 24.5 per cent explosion in prices.
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