As we pass the midpoint of 2023, it’s a good time to take a look at what’s happened in the housing market so far this year and consider what could happen in the second half of the year.
And joining me today is Dr. Nicola Powell, Domain’s Chief of Research and Economics to discuss Domain’s latest House Price Report uncovering the latest developments in property prices, demand/supply dynamics, regional disparities, and much more.
Whether you're a prospective homebuyer looking for valuable insights, a seasoned investor seeking to navigate the market confidently, or simply curious about the current state of Australian real estate.
Whether you're a prospective homebuyer looking for valuable insights, a seasoned investor seeking to navigate the market confidently, or simply curious about the current state of Australian real estate, I’m sure you’ll get some great insights from my chat with Nicola.
My conversation with Dr. Nicola Powell about the Domain House Price Report
Today, Dr. Nicola Powell and I discuss the resilience and future of the housing market. We delve into property prices, supply and demand dynamics, regional disparities, and the influence of government policies. During our chat, we also address concerns about distressed listings and a potential property market crash, as well as share our predictions for 2023.
- The importance of perspective when reading the housing market data.
- It’s important to pair the data with other economic factors and other data sets to come to conclusions
- An overview of Domain’s key findings
- We’ve recouped about half of the $60,000 in median house price that was lost during the downturn
- Key drivers of housing market resilience
- Understanding why Adelaide and Perth avoid major downturns in house prices
- Analysis of the rise of distressed sellers and the risk of a property market crash
- Insight into Sydney's role in price recovery and the impact of job stability and wage growth on the market
- Evaluation of Southeast Queensland's latest house price report and Melbourne’s housing market recovery
- Examination of Brisbane's unit prices hitting a record high
- The challenges that Hobart has faced
- Discussion on the influence of government policies on the property market, including land use reform and policies promoting affordability
- Prediction of the challenges for the property market in 2023 and advice on how to navigate it
Links and Resources:
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Some of our favorite quotes from the show:
“Sellers are buyers and buyers are sellers, so if more sellers put their homes on the market, they're also going to be buyers out there as well.” – Michael Yardney
“The right time to buy is when you're ready, when your finances are ready, when it suits your family.” – Michael Yardney
“Calculated risks are risks you decide to take after doing your homework, after checking everything out.” – Michael Yardney
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