House prices by comparison lifted 0.9 per cent over the quarter to $823,272, and are 4 per cent below their 2022 market peak.“I think the unit growth will go for a bit longer and that’s because on one hand you’ve got affordability, and on the other unit rents are still increasing,” Conisbee said, but added that she expected a little rental price relief in the months to come.
Mardiasmo also expects an increase in the number of larger apartments in the development pipeline, to cater to families wanting to live closer to the city. “Historically, spring has always seen increased supply and this year I think there’ll be more than ever because there’s nervousness surrounding interest rate rises, and we may have another couple more ahead of us,” Jordan said.