Growth in house prices in Australian capital cities could accelerate in the second half of 2024 and in 2025, with the housing shortage likely to worsen as population growth feeds demand for housing and supply not keeping up, underpinning further gains in property prices and rents.
The probability of price rises for houses and units is high in Melbourne, Sydney and Brisbane as housing moves further into undersupply over the next 24 months.
Research conducted by Performance Property for Capspace reveals the extent of the ongoing housing shortage, with evidence of supply chain problems and the high cost of construction limiting the creation of new housing, meaning the unit and housing markets continues to be in an undersupplied position.
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