Outer suburbs stalling as war, rates and fuel shocks hit buyer confidence
After leading the final phase of Australia’s property upswing, outer suburban markets are showing signs of a sharp slowdown as rising interest rates, surging petrol prices and global uncertainty weigh heavily on sentiment.
Property upswings typically begin in the inner cities of the nation’s capitals, working their way through middle-ring suburbs. (Image source: Harley Kingston/Shutterstock.com)
The outer suburbs of the nation’s capitals have been the standout performers over the past year, as the last vestiges of the property upswing ripple outwards.
Yet the US and Israel’s war on Iran, soaring petrol prices, and interest rate rises may have put an abrupt end to the party, snuffing out the last embers of the nation’s real estate boom.
“We’re experiencing low inquiries, no one turning up at auctions,” says Basel Nahas, principal of Lai…
