The Property Tribune
The residential property market in Australia has navigated a tumultuous period from the outset of the pandemic.
Building booms across the country fed by the Federal and various state stimulus packages introduced to keep the economy moving caused unintended chaos, not just here in WA, but in other states as industry struggled to keep up with demand.
Global supply chain disruptions, worker shortages and myriad other issues converged during that time of heightened demand and the industry is still reeling from the fall out.
In Sydney and Melbourne, the boom led to steep price escalations, with the median house price according to CoreLogic’s Home Value Index in Sydney now sitting at $1.03m and $767,000 in Melbourne.
To read this article in full, click here. This article is from #4 2022 edition of UDIA WA’s The Urbanist magazine. To read this edition in full, click here.