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Latest property price forecasts for 2024 revealed. What’s ahead in our housing markets in the next year or two? - featured image

Latest property price forecasts for 2024 revealed. What’s ahead in our housing markets in the next year or two?

key takeaways

Key takeaways

Australia’s housing market continues to defy expectations!

Despite 13 interest rate increases from the Reserve Bank of Australia, which have seen official rates rise by 4.25 per cent over the 18 months, property prices have not only stopped falling, but it is clear that our property markets bottomed out in early 2023 and prices have been rising ever since.

Strong migration and lower listing volumes (fewer properties for sale) are putting pressure on house prices.

Inflation has now peaked and it's likely so have interest rates, and in due course consumer confidence will return and the markets will continue their upward trajectory.

But as I explain below our markets will be fragmented.

And there is no end in sight for our rental crisis and rents will continue skyrocketing this year.

  • What's the outlook for the Australian property markets for 2024? 
  • Have interest rates really peaked now or will the RBA raise rates again in 2024 and when will they start coming down?
  • Will the "fixed interest rate cliff" and affordability issues cause a round of distressed sales and prices to fall in 2024? 

These are common questions people are asking now that the housing markets have had eleven months of rising values. is now clear that our housing market has defied the many doomsday forecasts and has moved through the bottom of the cyclical downturn early in 2023 experiencing a V-shaped recovery making the 2022 downturn one of the sharpest but shortest ones in history.


The price upturn is now firmly entrenched with home prices hitting fresh record highs in many markets during the final months of 2023.

Meanwhile, auction clearance rates are delivering consistent results showing the depth of our major capital city housing markets and the year is finishing off with increasing buyer sentiment – in fact some FOMO (fear of missing out) is creeping in as house prices reach new peaks.

Auction clearance rates 2023

Of course, each state is at its own stage of the property cycle and within each capital city there are multiple markets.

House price growth 2023

While some regional areas outperformed the capital cities in 2022, capital city property markets have led the price upturn in 2023 and regional areas had slower growth.


And after underperforming throughout the pandemic period, unit prices recorded stronger growth for much of 2023.


Here's what the big four banks forecasting for property prices in 2024?

  • ANZ forecasts capital city property prices to lift 5-6 per cent in 2024. The biggest gain is tipped for Brisbane, 9 to 10 per cent, and Perth property values could increase by 1-11% - Sydney by 4-5 per cent. Melbourne prices are predicted to lift 2 to 3 per cent.
  • CBA expects capital city prices to lift 5 per cent, with small variations across the cities. Brisbane is tipped for 6 per cent growth, Melbourne and Perth for 5 per cent, Sydney for 4 per cent and Adelaide for 1 per cent.
  • NAB predicts prices across the capitals to rise an average of 5.4 per cent. Prices are expected to lift 6.5 per cent in Brisbane, 6.2 per cent in Perth and Adelaide, 5.5 per cent in Melbourne and 5 per cent in Sydney. Hobart values are expected to end the year flat.
  • Westpac forecasts 6 per cent growth across the combined capitals. Perth is pencilled in for the highest growth at 10 per cent, followed by Brisbane at 8 per cent, Sydney at 6, Adelaide at 4 and Melbourne at 3

Anz House Price Forcast By State

You can always beat the averages.

While it’s likely that property price growth will be lower in 2024 than it was last year, the good news is that if you don’t like the outlook for what property will do on a national level, you can always beat it by investing in the right property in the right location.

Now by that, I don’t mean look for the next hotspot.

I mean buying quality properties in locations that will outperform in the long term such as gentrifying suburbs.

You offers countless opportunities to improve your results through your own time, skills and knowledge – so you don’t need to settle for average.

And there’s more to it than just location. You can add value through refurbishment, or redevelopment.

The latest housing market stats

Dwelling values have remained robust throughout the year, with November marking a 7% annual increase with some major cities rising stronger than others.

Here are the latest stats provided by CoreLogic for property price changes around Australia:

Index Results As At 29 February

Source: CoreLogic 1st March 2023

In fact, all the research houses reported higher dwelling prices in November 2023,

  • Australia’s housing upswing continues in 2024 with CoreLogic’s national Home Value Index (HVI) rising 0.6% in February, the strongest monthly gain since October last year.
  • PropTrack reported that national home prices lifted 0.45% to hit a new record in February, marking the largest monthly rise since October 2023. That brings prices up 0.82% so far this year to sit 6.15% above February 2023 levels.
  • Dr Andrew Wilson’s My Housing Market reported that National house prices increased over February 2024 following the steady start to the year reported over January, although capital city results varied significantly. According to Dr Wilson, the national capital city median house price increased by 0.8% to $1,094,943 over the February quarter compared to the January quarter.

We also keep track of “Asking Prices” as these are a good leading indicator for the property market because they reflect the sentiment of sellers and their expectations for the future value of their homes.

Sydney Property Asking Prices

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 1,885,752 -7.852 -2.9% 10.6%
All Units 791,401 -1.799 0.0% 6.5%
Combined 1,445,731 -5.418 -2.3% 9.4%

Source: SQM Research, February 2024

Melbourne Property Asking Prices

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 1,235,751 3.902 0.3% 5.9%
All Units 602,657 1.843 1.0% 1.2%
Combined 1,038,547 3.261 0.4% 4.8%

Source: SQM Research, February 2024

Brisbane Property Asking Prices

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 1,055,530 5.365 2.8% 11.4%
All Units 578,312 -0.712 0.7% 14.9%
Combined 936,946 3.855 2.4% 11.8%

Source: SQM Research, February 2024

Perth Property Asking Prices

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 952,268 8.582 3.3% 16.3%
All Units 481,361 0.339 0.8% 12.1%
Combined 830,068 6.443 2.9% 15.5%

Source: SQM Research, February 2024

Adelaide Property Asking Prices

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 869,862 5.222 2.0% 13.0%
All Units 441,349 7.851 1.3% 18.8%
Combined 793,033 5.694 1.9% 13.5%

Source: SQM Research, February 2024

Canberra Property Asking Prices

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 1,206,771 4.090 0.7% 16.2%
All Units 596,960 -5.223 -1.0% 0.6%
Combined 986,452 0.725 0.3% 12.2%

Source: SQM Research, February 2024

Darwin Property Asking Prices

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 659,600 -6.800 -0.3% -3.0%
All Units 377,672 0.661 1.2% 0.5%
Combined 549,056 -3.874 0.1% -2.2%

Source: SQM Research, February 2024

Hobart Property Asking Prices

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 803,484 1.334 1.2% 0.8%
All Units 508,623 0.467 0.1% 7.9%
Combined 759,237 1.204 1.1% 1.4%

Source: SQM Research, February 2024

National Property Asking Prices

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 903,485 -1.152 0.3% 8.8%
All Units 534,714 2.049 0.8% 5.8%
Combined 824,788 -0.469 0.4% 8.3%

Source: SQM Research, February 2024

Capital Cities Property Asking Prices

Property type Price ($) Weekly Change Monthly Change % Annual % change
All Houses 1,344,245 9.326 -0.2% 10.4%
All Units 664,300 -0.054 0.2% 6.0%
Combined 1,144,937 6.576 -0.1% 9.4%

Source: SQM Research, February 2024

The fundamentals of what drives Australian property prices

Property prices are driven by a combination of factors, and as we move through property cycles, they all come together to influence whether property values rise or fall.

In the medium term, property values will be linked to a range of factors that tend to boil down to two basic economic concepts: consumer confidence and supply and demand.

Understanding how these concepts work together to affect real estate is crucial to one’s understanding of what’s ahead for our housing markets.

On the other hand, if you look at what's ahead for housing markets over the next decade or two, and take a telescopic view, rather than a microscopic view, the two big factors driving our housing markets will be demographics (how many of us there are, have we want to live and where we want to live) and the wealth of the nation.

But first, let’s dig a bit deeper into the key underlying factors that will be influencing our property markets in the medium term.

Interest Rate2

1. Interest rates/affordability

While many people believe interest rates are a key driver of property values, and that's why there were so many pessimistic property forecasts as interest rates rose through 2022-23, our housing markets showed considerable resilience and kept rising in value despite the 13 interest rate rises the RBA threw at us.

Of course, falling interest rates and the subsequent increased affordability are strong drivers of property price growth, but the reverse isn't true.

House prices are driven by many other factors, not just interest rates.

However Australia's biggest lender, the Commonwealth Bank, is forecasting 6 interest rate cuts in 2024 and 25 starting in September.

This would take the Reserve Bank of Australia cash rate back to 3.6 per cent in the second half of 2024 for the first time since May 2023 - down from an existing 12-year high of 4.35 per cent.

Of course this extra borrowing capacity would put a fire under our property markets.

2. Supply and demand

Housing supply has a significant influence over house prices in the short term: an undersupply puts pressure on prices to rise while an oversupply does the opposite.

Despite very strong population growth through 2023, we’re just not building enough new dwellings, and this has put pressure on housing supply reflected in low rental vacancy rates and higher house prices.

At the same time, the strong absorption of new listings for sale has kept total listings in the market suppressed, intensifying competition between buyers.

These factors have created a sharp shortage of housing, outweighing the negative impact of rates on prices.

Population Growth Vs Building Completions

And there is no end in sight as building approvals (which are a good indication of future supply) are running at very low levels.

And just because a new apartment complex has been approved, it doesn't mean it will get built.

At the moment very few new complexes are coming out of the ground because it's not financially viable to build them at today's market prices.

Of course, this means future new developments will have to sell at prices considerably higher than today’s market value and this will, in turn, pull up the value of established apartments.

Building Approvals Vs Population Growth

3. Consumer confidence

Consumer confidence is a critical factor affecting the direction of property prices.

We won't make big financial decisions like moving home or buying an investment property unless we feel confident about our economic future and our financial stability.

2023 was a year where consumer confidence was at historic lows because of all the economic and socio-political issues that confronted us.

Consumer Sentiment

I believe that during 2024 consumer confidence will rise as we realise interest rates have peaked and are going to eventually fall, and as inflation slowly comes under control.

At the same time, the “wealth effect” a very improving economy and rising property values will lead to further consumer confidence and bring home buyers and sellers back into the market.

4. Economic climate

Another key factor that affects the value of the property market is the overall health of the economy.

This is generally measured by economic indicators such as the gross domestic product (GDP), employment data, manufacturing activity, the prices of goods, etc.

Broadly speaking, the economy is strong and the RBA is trying to slow it down to bring inflation under control, but currently, everybody who wants a job can get a job and this will underpin our housing markets even if the economy falters a little moving forward.

5. Population growth

Australia has experienced a record-breaking rate of net overseas migration, estimated to have reached around 500,000 people in the 12 months to September 2023.

While population growth would ordinarily be a key driver supporting our property markets, the influx has pushed our supply/demand balance off-kilter and is key to the increase in housing prices and the shortage of rental properties.

6. Availability of credit

When the credit (the ability to borrow from the banks) is readily accessible, with lower interest rates and less stringent lending criteria, it tends to stimulate the housing market since more people find themselves able to borrow money to buy homes, leading to increased demand for housing.

On the flip side, when credit is tightened through higher interest rates or stricter lending criteria (as happened when APRA made the banks tighten the purse strings in 2016-7), the effect can be a cooling of the housing market.

Such measures are usually a deliberate policy response to an overheated market, aiming to reduce the risk of a “property bubble” and subsequent crash.


7. Investor Sentiment

This sentiment, essentially the collective attitude and outlook of investors towards property markets, can significantly influence both the demand for and the value of real estate.

Investors generally account for around one-third of all property transactions so positive investor sentiment can drive up property prices, especially in sought-after areas.

Conversely, negative investor sentiment, as occurred during the market downturn of 2022, can lead to a decrease in property values.

If investors believe that property prices will stagnate or fall, they may be less inclined to invest, or they might choose to sell off their properties, increasing supply in the market.

8. Government incentives

Government incentives can have both direct and indirect impacts on the real estate sector.

One of the most direct ways government incentives affect property values is through policies aimed at stimulating demand.

For instance, initiatives like the First Home Owner Grant (FHOG) or stamp duty concessions for first-time buyers directly increase buying capacity, leading to greater demand for property.

Another aspect is the development incentives provided by the government to promote specific types of property development, such as high-density housing or urban renewal projects.

These incentives can increase property values in targeted areas by improving infrastructure, accessibility, and community facilities, making them more desirable places to live.

Tax policies and regulations also play a crucial role.

Negative gearing can increase demand for investment properties, pushing up prices.

And every time there is talk about removing negative gearing or amending taxes including land tax, investors shy away from our housing markets.

Property Market

Australian housing market predictions for 2024

The last few years have shown us how hard it is to forecast property trends, and as always there will be headwinds and tailwinds buffeting our property markets.

Drivers of property price growth in 2024 will include:

  • Continued strong population growth at a time when we are not producing enough supply of new dwellings. This extreme shortfall will exert upward pressure on house prices and rents throughout 2024.
  • I anticipate that interest rates will fall in the second half of 2024 and at some stage next year it is likely APRA will relax its mortgage serviceability buffer. This is currently at 3% and the combination of these factors will increase borrowing capacity.
  • FOMO (fear of missing out) will creep in as buyers realise all the price falls of 2022 have now been made up and the media will keep mentioning new record prices being achieved.


  • Stretched affordability will remain an issue in 2024, however, buyers will want to get on with their lives and therefore choose townhouses or apartments over homes or move to more affordable suburbs.
  • The RBA wants to lift unemployment to help slow inflation. Financial uncertainty and worries about job security will stop some buyers from making important decisions like buying a home or an investment property.
  • Poor consumer sentiment was a feature of 2023, holding back property buying decisions, and until there is more certainty about our economy and confidence that interest rates have peaked and inflation is under control, it's likely that consumer confidence will remain low in the first half of 2024.

The following chart from ANZ Bank shows they expect housing prices to rise around 6% in 2024 and then around 5% in 2025.

Anz House Price Forecast

The strongest performers are likely to be Brisbane and Perth, where population growth is expected to outpace supply more than in other cities.

ANZ believes that real wage growth from early 2024 and modest interest rate easing from late 2024 will also support borrowing capacity and prices.

With the increase in value of houses strongly outpacing the apartment market recently, now with the differential in price between units and houses at the highest level on record, and with houses becoming more unaffordable for many, I can see strong capital growth ahead for family-friendly apartments in great neighbourhoods.

Here are Dr Andrew Wilson's forecasts for 2024, and he has an enviable track record of getting it right.

Dr. Andrew Wilson Housing Forecast

8 economic and property trends to watch out for in 2024

1. The recovery phase of the market will continue in 2024

Property price growth will continue in 2024 albeit at a much lower rate and our housing markets will be fragmented as affordability will affect many homebuyers.

2. Interest rates will  fall

Interest rates will peak in early 2024, if they haven’t already done so, but are likely to remain higher for longer than many would like as inflation will remain stubbornly higher than the RBA hopes for a little longer.

When interest rates eventually fall, which could be in late 2024, this is likely to encourage greater housing investment and more homebuyers.

3. Our property market will be even more fragmented

Of course, there was really never one Sydney property market or one Melbourne property market.

There are markets within markets – there are houses, apartments, townhouses and villa units located in the outer suburbs, middle ring suburbs, inner suburbs and the CBD, and they're all behaving differently.

But our markets will be much more fragmented moving forward as some demographics struggle with cost-of-living, rent and mortgage cost increases (at a time of low wage growth) more than others.

It will either stop them from getting into the property markets or severely restrict their borrowing capacity which will negatively impact the lower end of the property markets.

Meanwhile, many first-home buyers who borrowed to their full capacity will have difficulty keeping up with their mortgage payments at the time of rising interest rates or when their fixed-rate loans convert to variable rates.

In other words, there will be little impetus for capital growth at the lower end of the property market.

That's why I would only invest in areas where the locals’ income is growing faster than the national average - such as gentrifying suburbs - as locals will have higher disposable incomes and be able to and are likely to be prepared to pay a premium to live in these locations.

Many of these locations are the inner and middle-ring suburbs of our capital cities which are gentrifying as these wealthier cohorts move in.


At the same time, I see well-located properties in our capital cities outperforming regional property markets.

In fact our capital cities outperformed regional housing markets over the last year or so.

In the past one of regional Australia's allure was its affordability compared to capital cities.

However, the surge in prices over the COVID lockdowns narrowed the price gap and this diminishing affordability undermines one of the key advantages regional markets had over metropolitan counterparts.

The measure of years to save a 20% deposit for the median regional home on a median regional income has risen from 7.4 years in early 2020 to 9.7 years, as opposed to 10.0 years for capital cities.

Regional Markets Unaffordable

4. Migration

Net overseas migration to Australia will remain strong in 2024, however, the Federal government will lower the rate of temporary migrants coming to Australia.

This will keep driving rental growth as migrants tend to rent.

Only 38% of migrants own a home after being in Australia for five years, yet 71% of migrants own their home after 10 years.

5. Rents will keep rising

There is no end in sight for our rental crisis and rent prices will continue skyrocketing into 2024.

In fact, increased rental demand at a time of very low vacancy rates will see rentals continue to rise throughout the next few years.

6. Strategic investors will keep entering the property market

And they’ll squeeze out first-home buyers.

As rents continue to rise and the share of first-home buyers continues dropping, strategic investors with a realistic long-term focus will return to the market.


7. Neighbourhood will be more important than ever

In our new “Covid Normal” world, people will pay a premium for the ability to work, live and play within a 20-minute drive, bike ride or walk from home.

Many inner suburbs of Australia’s capital cities and parts of their middle suburbs already meet the 20-minute neighbourhood tests, but very few outer suburbs do because there is a lower developmental density, less diversity in its community, and less access to public transport.

And ‘neighbourhood’ is important for property investors too, and here’s why.

In short, it’s all to do with capital growth, and we all know capital growth is critical for investment success, or just to create more stored wealth in the value of your home.

This is key because we know that 80% of a property’s performance is dependent on the location and its neighbourhood – in fact, some locations have even outperformed others by 50-100% over the past decade.

And it’s likely that moving forward, thanks to the current environment, people will place an even greater emphasis on neighbourhood and inner and middle-ring suburbs where more affluent occupants and tenants will be living.

These ‘liveable’ neighbourhoods with close amenities are where capital growth will outperform.

What sets these neighbourhoods apart is the demographics – these locations are generally gentrifying or are lifestyle locations and destination locations that aspirational and affluent people want to live in.

So lifestyle and destination suburbs where there is a wide range of amenities within a 20-minute walk or drive are likely to outperform in the future, fetching premium prices in 2024.

8. Our economy and employment will remain robust

Sure the RBA continues in its efforts to slow down our spending a little in order to bring down inflation.

But despite this our economy will keep growing (albeit a little slower) and the unemployment rate will remain low thanks to the many new jobs created as our economy grows.

Capital Cities

Local Capital Cities Market Predictions for 2024

As we know, there is not one Australian housing market, but markets within those markets, and again within those.

To give a better view of market predictions for the next 12 months in your area, here’s a breakdown of each local capital city’s market predictions for 2024.

Melbourne housing values rocketed 15.8% through 2020 and 2021 before falling 7.9% from their peak in March 2022 through to the recent trough in January 2023.

And while the Melbourne property market has risen slowly over the last year, it is underperformed, the other major capital cities, meaning there is significant intrinsic value in Melbourne dwellings as they will eventually catch up with the price growth of the other states.

At Metropole, we’re finding that on-the-ground sentiment has changed and strategic investors and homebuyers are accepting that inflation has probably peaked and that interest rates are likely to peak in the next few months, so they are getting on with property decisions.

While more buyers are active in the market, there is currently a shortage of good quality stock on the market - while house prices have been resilient, Melbourne rental rates are experiencing weaker conditions due to a higher supply of rental properties, and less demand.

Sydney’s housing values also boomed through 2020 and 2021 with prices rising by 27.2% before falling 12.4% from their peak in January 2022 to the recent trough in January 2023.

But now the Sydney housing market has also clearly turned the corner with prices rising consistently for the last 10 months - now up 11.6% since January 2023.

Over the last few months, the sentiment of both Sydney property buyers and sellers has changed and buyers are pushing up the price of well-located A-grade homes and "family-friendly" apartments which are still in short supply, but B-grade properties are taking longer to sell and informed buyers are avoiding C-grade properties.

This flight to quality means that moving forward the various sectors of the Sydney real estate market will be segmented, which is a more “normal” property market.

Sydney’s strong auction clearance trends are also a great "in time" indicator of market sentiment and a leading indicator of future property prices.


Brisbane’s housing market paints an even stronger picture - after prices rose a huge 45.3% in 2020-21, they fell 8.9% from their peak in May 2022 to the January 2023 trough before turning and rising 10.5% over 10 month-on-month increases.

And there are many signs that Brisbane will still be one of the strongest housing markets in 2024.

Home prices have surpassed previous peaks, and if prices continue to grow at the same pace as over the past 3 months, home prices in Brisbane would be set to end the year up 8.0%, which would be close to double the average annual growth since 2010 - with that growth expected to continue as we move into 2024.

Our on-the-ground experience at Metropole Brisbane shows that there is emerging strong demand from both home buyers and property investors for A-grade homes and investment-grade properties.

Perth’s housing values also continue to enjoy an accelerated increase, with October's 1.6% rise in values the highest monthly gain since March 2021.

Since finding a trough in January, the National Home Value Index has increased by 7.6%, leaving the index only 0.5% below its historic high recorded in April of last year.

Perth’s listings are almost 45% below the five-year average, while sales activity is almost 25% above average and prices are rising at the fastest pace since March 2021 so it's logical to expect prices to continue increasing into 2024 as the city continues to grapple with its supply and demand imbalance.

Adelaide’s housing values reached a new record midway through November, recovering from its 7.5% drop in values recorded through the trough from May 2022 to January 2023.

The trend in advertised stock levels remains a critical feature of the housing market.

Advertised stock levels have hardly budged through spring, holding almost 40% below the 5-year average for this time of the year, despite a 20% rise in the flow of new listings coming onto the market.

With vendor activity gathering some momentum, while buyer activity slows, it's likely selling conditions may continue to rebalance back towards buyers in 2024.

Canberra’s property prices rose a robust 6.2% in November which is promising news for the city’s property market.

But new listings in the city have also surged 24.4% over the past year, the strongest uptick of any Australian city.

With vendor activity gathering some momentum, while buyer activity slows, it's likely selling conditions will continue to rebalance back towards buyers, especially in those cities where advertised supply levels are high.

In markets where demand and advertised supply levels are more evenly balanced, it's logical to expect price growth to slow down in 2024.

Hobart’s housing values remained flat for November - while prices were rising in other capital cities around the country, Hobart’s new listings and distressed listings remain high.

Like Canberra, Hobart’s vendor activity has gained momentum which has taken the pressure of undersupply out of the market and cooled property price growth - a trend which is likely to continue into 2024.

Forecast 2

Long-term forecasts for Australian property markets (2025-2030)

Over the next decade, demand for housing is expected to benefit from the triple boost of rising population, rising jobs, and rising income.

Collectively this wealth effect will add around $860 billion of income over the next decade, a significant portion of which is likely could be directed towards housing.

The average Australian tend to spend 13% to 20% of their income and either rent or mortgage servicing.

triple boost for our housing markets

Of course, no matter how many times you forecast property prices, it will always be difficult to predict exactly where property markets and prices will be in three months' time, let alone 6-7 years into the future.

After all, history shows us that some properties will outperform others by 50-100% in terms of capital growth, so strategic property investors who buy investment-grade properties could expect to see the value of their properties more than double within the next seven to 10 years.

So we always have to take forecasts for Australian property markets with a big pinch of salt.

But what I am confident we’ll see for our future property markets comes off the back of our strong projected population increase.

Currently, there are about 26.5 million Australians and Australia's population is forecast to rise to 29 million people by 2030.

This means 3 million more people will need somewhere to live and this will underpin our property markets.

What we predict for Australia’s property market is that there will be many more high-rise towers of apartments, not just in the CBD but in our middle-ring suburbs.

In fact, we are already starting to see this, particularly in Melbourne and Sydney.

And we also expect there will be lots more medium-density housing – in particular townhouses will be a popular way to live with modern large accommodation on more compact blocks of land.

So what about property prices for 2025-2030?

Some economists predict a 40-50% growth in Australia's house prices between now and 2030.

This isn’t surprising because it’s often said that over the long term, the average annual growth rate for well-located capital city properties is about 7% (and we know that prices have risen 6.8% per annum over the past 30 years), which would mean, in general, well-located properties should double in value every 7-10 years.

That would put Australia’s median dwelling price at around $1.1 million in 2030.

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About Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media.

The so called "ex-spirts" go it so wrong at the beginning of this year (2023) and they were so certain of their prediction.... We had the mortgage cliff bearing down upon us We had ever-increasing interest rates. Buyers were going to desert the ma ...Read full version

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Hi Michael, Hope you and all at Metropole enjoy a great festive season. Something that has always puzzled me is where Townhouses sit when describing unit prices and housing prices. Also, now that real estate agents are now referring to high de ...Read full version

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Great summary, I am curious and would to challenge Metropole and Michael to rethink their open bias about the Gold Coast, Australia’s 6th largest city. Curious given your company’s remit is to support property investor clients, and by overlooking arg ...Read full version

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