One of Australia’s leading property data analysts has forecast that property prices will rise again in many parts of the country in 2023.
SQM Research managing director Louis Christopher, in his ‘base case’ scenario, expects capital city prices to rise 3-7% next year. That assumes:
* The cash rate climbs no higher than 4% (it’s currently 3.10%)
* Inflation climbs no higher than 8% (it’s currently 6.9%)
* Unemployment climbs no higher than 5% (it’s currently 3.4%)
If Christopher is right, the balance of power in many property markets will begin moving from buyers to sellers in 2023.