Australian property market in 2024: Is it a good time to buy in 2024, interest rates, rent, house prices
Three property experts have made their predictions for what Australians can expect from the property market in 2024.
It has been a challenging year for mortgage holders, renters and landlords as six rate rises increased pressure on budgets and pushed Australians to their financial limits.
Estimates that homeowners were heading towards an ominous “mortgage cliff” have so far proven untrue despite a gloomy outlook for the national economy and property prices don’t appear to be any closer to plummeting.
Ray White chief economist Nerida Conisbee, Suburbtrends.com.au founder Kent Lardner and PropTrack’s Economic Research executive manager Cameron Kusher have all weighed in on what they think Aussies can expect to see in the property market in 2024.
Will property prices surge?
Property data analyst Kent Lardner is the brains behind suburbtrends.com.au and has spent the best of two decades surveying property trends across the country.
He said predicting property prices in the last six months has been “very difficult” and it’s only going to get more unpredictable in the new year.
Looking at current trends, Mr Lardner said properties in some regions where prices fell a “little bit too much” during the pandemic have started to climb again this year, and