Ewan’s Hot Take: Economist Update with REA’s Cameron Kusher

The real estate market in Australia is showing signs of stability and growth according to Cameron Kusher, the Economist for realestate.com. Interest rates are plateauing, inflation is on the way down, and prices have increased by 3% this year due to low stock levels. However, there are mixed messages in different markets and buildings, with some properties selling strongly while others are not moving in price. The rental market is also seeing a rise in vacancy rates and a plateauing of rents after a period of high demand during the COVID-19 pandemic. Kusher advises landlords to watch the market carefully and not push rents too aggressively. With more stock available for buyers, the market is becoming more discerning, and vendors should pitch their prices carefully to attract competition and sell. Kusher also notes a reversal of people moving out of the city and into shared houses during the pandemic, with many returning to the city and their own places. Overall, the market is stable, and the advice is to proceed with caution and steady growth.