Continued movement from cities to the country will continue to support demand, experts say, but regional prices are likely to slow substantially.
Peter Koulizos, program director, master of property, at the University of Adelaide, says continuing movement from cities to the country will continue to support demand, but regional house prices are likely to slow substantially.
“I think there’s little growth left in some regional areas, so there’s definitely a case for being sure you do the research on any region before you buy,” she says. “Only those regions with sound intrinsic growth drivers will see further growth. Those still within that one hour or so commute and with large populations, whose micro economies are not reliant on proximity to the city, should still see some moderate growth into 2023, due mainly to their affordability.”
“Ensure that the area offers amenity, lifestyle, convenience, good schooling and social services,” she adds. Victor Kumar, property investor and director of Sydney-based buyer’s agency Right Property Group, says it is important to consider the liquidity of the property if the worst-case scenario occurred.
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