The report from PropTrack notes prices are forecast to increase between 3 and 6 per cent, on an annual basis, across the combined capital cities.
However, Mr Kusher concedes forecasting the direction of the property market beyond 2023 has proved challenging. "Interest rate changes act with a lag and, as such, the possible impact of higher repayments on these borrowers won't be seen until 2024.Economist Rae Dufty-Jones from RPS Group says the key risk to the property market rests in the unemployment rate.
Official forecasts have the unemployment rate rising above 4 per cent, but to date the jobs market has also proved resilient.
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