What are we predicting for 2023?

Property – 56 Riverleigh Avenue, Gerroa

Our outlook for the first two quarters of 2023 is for a steady market, which now seems to have factored in any future interest rate rises. With wages slowly increasing, immigration increasing, rents rising and interest rates settling, it feels like we should pass the low point around the middle of the year and see higher numbers of buyers enter back into the market during the third and fourth quarters. Even though properties are still taking a little longer to sell, the prices being achieved are still very good. Sale prices do generally come back slightly after a substantial amount of growth in a short period of time, and this is exactly what we have experienced over the last two quarters of 2022. In conclusion, 2023 will quite likely play out to be a year where the market steadies and settles down and there is no doubt, that we will still have plenty of people wanting to purchase their little piece of paradise in the amazing little coastal strip we all love so much.
Jason Stalgis, Terry Digger – Principals

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