Current Real Estate Trends: Ray White Now Report November 2023
2023 continues to see rising property prices, with a persistent shortage of listings challenging buyers. While late winter brought a surge in listings, spring has seen fewer properties entering the market, pushing more buyers towards established homes.
Rental price hikes are also making renting less appealing. Both capital cities and regional areas are experiencing this growth, though some regional spots in New South Wales, Victoria, and Western Australia are facing price declines. The changing appeal of holiday homes, influenced by Airbnb restrictions and post-pandemic travel trends, is also impacting the market.
