Sydney’s property market has experienced eight continuous month-on-month median house price increases and recovered most of any falls experienced throughout 2022.
It appears the top end of the market is leading the upturn and, despite some potential headwinds, it seems clear that we are in the recovery stage of the property cycle. Buyers and sellers have been activated by restored and rising confidence, and the value opportunities that remain with national prices are still lower than last year’s peaks despite recent sharp rises.
Higher interest rates over the past year or so have failed to quell housing market activity significantly through 2023 with growing signs that the peak of the current raising cycle may occur sooner and lower than many had expected. A strong economy with a record-level low unemployment rate, is continuing to support consumer activity and confidence.
