These last few years have shown us how interesting the property market has been and as always, there will be headwinds and tailwinds buffeting our real estate market this year too.  With a strong population growth and a short supply of new dwellings, this shortfall will have a significant impact on our house prices throughout 2024.

We have had thirteen interest rises in a row and we anticipate that interest rates might fall in the second half of 2024 and mortgage serviceability will ease a bit, especially for our first home buyers.  When interest rates eventually fall, which could be in the later part of 2024, this is likely to encourage consumers to have more confidence in purchasing a home.

Overseas migration to Australia will remain strong in 2024.  This will keep driving rental growth as migrants tend to rent first.  Thanks to the many new jobs created as our economy grows, our unemployment rate will remain low, and our economy will keep growing.

Brisbane will be one of the strongest housing markets in 2024.