National Apartment Market Overview 4Q22
Conditions remain mixed across Australia’s apartment market
- Leigh Warner
- Aiden Mayne
Australia’s housing market has continued to soften over 2022 and into 2023, due to rising interest rates and other cost of living pressures. This has dampened demand for parts of the apartment market, as many buyers pause and wait to see where interest rates might settle. Nevertheless, other parts of the apartment market that are less interest rate sensitive, particularly the higher end of the market and downsizers, have remained robust. The rental market also remains tight across the country and the recent opening of Chinese could also significantly boost the number of overseas students returning in early-2023 and put more pressure on rents.