5 Mar 2024
Australian Residential Property: 12 year low
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
Residential property prices (especially Sydney and Melbourne) just keep increasing and everyone without property keeps complaining.
If the Federal Government wants to stop steep rises in residential property prices and steep rises in rents then it will need to either cut immigration immediately or streamline the building of more residential property which is currently at a 12 year low.
Building more residential property (increasing supply) is preferable because it brings economic benefits but it takes years to deliver supply of new residential property.
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Ongoing reduction in residential property supply is not good because humans need shelter to live.
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