3AW The Real Estate Report: 22nd January 2024

Author: Ben Reid - Manager VAA

 

Take a listen to our overview of how 2023 ended and how the market is poised for 2024.

Despite 13 interest rate increases from the Reserve Bank across 18 months, property prices not only nationally stopped falling, but they bottomed out in 2023 rising ever since.

This created this V shaped recovery that we saw making 2022 downturn the shortest and sharpest one in history.

According to Corelogic National Home Value Index, property price nationally increased 8.1% in 2023 which is a significant turn around then the 4.9% drop we saw in 2022.

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