Happy Holidays

Another year down and it's kept us guessing all the way. I have reported throughout the year on the ups and downs of the property market and its continued defiance in the face of challenges.

Interest rates continued to rise in 2023. We had a change of RBA governor and, while rates were paused for a while, the new captain made the call to take them up a notch further in November.

While the tightening cost of living has been increasingly discussed, the real estate market is yet to show material signs of distress. However a lot of mortgage holders are coming off fixed rates and it is thought that this, along with diminished savings already having been spent on mortgage repayments, might prompt homeowners to relieve themselves of financial pressure and offload their properties.  

Based on its behaviour over the past couple of years, I am not game to predict what the real estate market will do in 2024. Suffice to say its resilience is its most outstanding feature, followed closely by its resistance to follow the party line (so to speak!).