Oct 29, 2022
Many of the economists making forecasts about property are claiming that house prices will fall next year, but I’m convinced prices overall will rise in 2023.
Those economists, I should point out, are the usual suspects who have terrible track records in forecasting real estate outcomes, partly or largely because they think that interest rates are the only factor in play.
It’s kindergarten analysis by the same people who early in 2020 forecast a property crash and what we got instead was a property boom.
We like to think that we’re more knowledgeable and sophisticated here at Hotspotting.
So our forecast for next year is that, overall, property prices will rise – not everywhere, of course, and not by the same level of growth across the nation – because we don’t have a single market in Australia.