Ewan’s Hot Take: On 2023

The Australian property market has held up well despite interest rate rises this year, with total numbers remaining on par with the previous year. The lack of supply had helped keep prices high, with people reluctant to sell in a rising interest rate environment. A shortage of housing kept the market stable, with good property selling well and in some cases, increasing in value. Rental values had also stabilised, with landlords exiting the market due to rising interest rates and a lack of profitability. Next year, Ewan predicts more of the same, with a steady state market and stable rental values. Interest rates may increase slightly, but not dramatically. Morton had managed around 3,700 properties across Sydney and had a sales team of 30.