COVER STORY
RESIDENTIAL REAL ESTATE has started 2024 with a lot of momentum. Buyer demand has become stronger over the past 12 months and most (though not all) cities and regional markets have launched the new year with considerable impetus.
So, 2024 is shaping up to be a positive year, continuing the trend that built in key markets as 2023 evolved.
I don't expect booms, but rather steady growth in most cities and regions.
Just as 2023 defied the forecasts of economists, delivering solid price growth in most jurisdictions, 2024 will do better than the pessimistic predictions that emerged late in 2023.
Nicola McDougall, president of Property Investment Professionals of Australia (PIPA), says all the reasons for upward price pressure in 2023 remain.
“Even with the reduction in migration by the Federal government, the build-up of demand
