Real Estate Industry Forecasts for 2023 – Why Invest in Australian Real Estate?
The inflationary economy, overall uncertainty about the currency value, and overall low GDP growth potential are all coming together to make 2023 an odd year for investors. The $3.5 billion hit the country suffered is weighing down the country as another potential COVID strain threatens daily life.
Under such circumstances, the Australian real estate market is forecasted to be a relatively stable investment option. However, even then, downturns have been predicted for H1 of 2023 for some areas. As a result, property managers and investors must remain at all times. Equimax Property Investment Advisors work on researching and forecasting Australian Property market conditions.
In this article, we will take a closer look at some of the key real estate industry forecasts for 2023 and consider how professional property investment advisor services can help you ensure you get the most out of your portfolio.
Link to How To Use Professional Services When It Comes To Property Investments
Real Estate Industry Forecasts for 2023
1. Location Is Key
As per experts, the metro property market may see a downturn – albeit not as significant. This includes the market for Sydney and Brisbane specifically. Having said that, Perth, Melbourne, and several other key areas are still showcasing a positive outlook, giving room to several potential opportunities.
During such a time, it is essential to be aware of the real estate market in each location. Furthermore, understanding which developments are currently on the rise and what kind of real estate investments are being made can also help you make informed decisions about where to invest.
2. Dwelling Values Are Predicted to Rise
Inflationary forces should lead to a moderate increase in dwelling values as prices move through peaks and troughs throughout 2023. This means that real estate investors have the opportunity to take advantage of growth opportunities in certain locations.
3. Rental Values May Also Rise
Renters may expect rental prices to rise steadily throughout 2023, especially in areas with strong population growth forecasts or high demand for real estate investment properties—making real estate investing an attractive option.
Here is an overview of the listed dwelling rental values as per the National Australia Bank.
This shows that you can expect a rise in the average rental prices compared to what the market is used to, especially for detached houses.
4. History Is with Us
The nominal home values are set to rise in 2023, with real estate investors having the opportunity to take advantage of this trend and make profitable real estate investments.
Throughout history, there have only been five years where the nominal value at year-end for home prices has been negative. Based on the forecasts, it seems that this trend is likely to continue throughout 2023, and unless there are any significant natural or economic disasters this year, we can expect growth as well.
Equimax Property Investment Advisors Help You Maximize Your Portfolio
With so many factors at play, it can be hard for property investors to completely understand the real estate market conditions in any given area. Professional property investment advisor services from Equimax Property Group can help you create a comprehensive plan that considers potential risks and ensures that your real estate investments are sound and rewarding.
Our services include research-based advice on property investment trends or access to exclusive infrastructural developments; they will also provide real-time updates on real estate market conditions and help you make informed real estate investments.
Call us today to leverage our technological and market leading research in the market to ensure better portfolio growth across the board!
