Australians can be forgiven for believing that real estate markets collapsed across the nation in 2022. And that it was all caused by rising interest rates. Both those notions are incorrect.
As 2022 drew to a close, most of the nation's market jurisdictions had dwelling values higher than a year earlier. The notable exceptions were Sydney (down 6.4%) and Melbourne (down 4.5%), according to PropTrack data.
Domain figures show that,