August 2023 Market Update

In the blink of an eye, here we are in August with only three months to the end of the year!

Let’s take a look at how the market performed in September. In Australia, there is positive growth in cities like Sydney and Perth, while Melbourne is recovering from deficits. The market is influenced by factors like rising stock levels, buyer accessibility, and consumer sentiment. In New Zealand, the market is showing signs of improvement after a steep downturn, with some key sub-markets recording increases. Mortgage rates have likely peaked, and migration is boosting property demand.

However, the next phase of the market is expected to be slow and patchy. Affordability and potential mortgage lending caps may temper excessive market exuberance. The worst appears to be over for New Zealand, but caution is advised for rapid growth.

Luckily, WA, Brisbane and Adelaide showed more modest growth through the 2021 rises and are now still performing quite well. But again it’s a population dependent and of course, you know we’re talking micro and macro markets and supply and demand because that’s what actually drives the market.

As we are now in Spring and this is typically the selling season, make sure you get a seasonal promotion out now.

For a more comprehensive look at how the market performed last month, be sure to watch the video below.

Disclaimer: The information provided in this blog is based on available data and should not be considered financial or investment advice. Please consult with a professional real estate or financial advisor for specific guidance related to your situation.

For more information, or to find out how Real Estate Brilliance can help you implement systems and strategies to take your business to the next level, click the button below to discover information on our upcoming webinar.

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June 2023 Market Update
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September 2023 Real Estate Market Update

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