For investors with funds and a plan, these are the key areas to watch.
The following are five key property market predictions for the new year.Many investors who bought development sites for apartment or mixed-use projects in the past few years are heavily leveraged. The combination of rising interest rates, surging construction prices and economic uncertainty has cast a shadow over these projects and many are no longer financially viable.
In this market, only those investors who have to transact will do so, so there are likely to be lower transaction volumes over the next 12 months. Vacancy rates on entry-level rental properties in Sydney, Melbourne and Brisbane are already sitting at 1 per cent, well below the peaks of COVID-19.
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