The 2023 Australian Property Market Outlook | #42
Welcome back to our first podcast of 2023 and it wouldn’t be a new year if we didn’t analyze the property landscape for the year ahead. So what does 2023 have in store for us?
As the RBA will likely continue to ramp up its most aggressive tightening campaign in decades, the consensus is that a recession will hit us in the first half of the year in spite of the fact that inflation may well have already peaked.
The downturn in the global housing market is set to continue in 2023, with most Australian cities expected to fall by double digits in what is shaping up to be the deepest property correction in more than 30 years. A year of rate hikes in 2022 has caused the housing market to fall nearly 10% since April last year.
So, bottom line, the next 12 months are likely to be very difficult for business, households and investors alike. Many jobs will likely be lost as the economy slows and scores of firms will not survive in a world in which money has suddenly become very expensive.
We aid investors all over the country with the toolkit they need to level up and succeed in their own property journey and that is exactly what we’re talking about in this episode of The Property Lovers Podcast.
Get ready to find out:
- What 2023 has in store for property in Australia
- The objective facts you need to know
- Why we may be in for a recession and how to protect yourself
- Why our savings are now depleted
- What consumer sentiment is like at the moment
- What are household liabilities
- Wages are not going to meet inflation and how to do more with a lot less money
- Although unemployment is low, it may change this year
- How to analyze the data to stay on top of your property game in 2023
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