Why We Think Property Prices Will Rise in 2023
- By Peter Gordon
- •
- 06 Dec, 2022
Many of the economists making forecasts about property are claiming that house prices will fall next year, but I’m convinced prices overall will rise in 2023.
It’s kindergarten analysis by the same people who early in 2020 forecast a property crash and what we got instead was a property boom.
We like to think that we’re more knowledgeable and sophisticated here at Hotspotting.
So our forecast for next year is that, overall, property prices will rise – not everywhere, of course, and not by the same level of growth across the nation – because we don’t have a single market in Australia.
Video courtesy Terry Ryder - specialist researcher/writer on residential property for over 35 years
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Sydneysiders and Melburnians, put aside your equally outstanding flat whites for a moment. Stop bickering about whether great beaches beat cool laneways (they do) and desist from debating whether all baristas require waxed moustaches (ideally).
Because Brisbane is closing in on the title of Australia’s best city, and we must join forces to keep this subtropical upstart in its place.
Time magazine recently named Brisvegas on its “World’s Greatest Places” list, and omitted our cities. It’s a huge shock (and who knew they still published Time magazine?). But they might be onto something.
Time points to the 2032 Olympic and Paralympic Games, which will be hosted in the maroon metropolis. Brisbane will do a fine job, even though it’ll baffle the world when rugby league is added to the schedule and Queensland is allowed to field its own team.
Time’s most radical claim is that Brisbane is worth visiting now, but tourism is surging. Not only did Lin-Manuel Miranda recently drop in to catch Hamilton , but hundreds of Hamilfans flew up to watch his interview with Leigh Sales (presumably unaware that it would subsequently arrive on iView for free).
A leading local agent has appraised each side of these duplex's to be worth $665k on completion and rent for $495 per week. So that is massive potentail instant equity of up to $390K on completion, which is incredibly hard to find.