The two groups who will be biggest losers in property market in 2024
- realestatetrendsin
- Nov 21, 2023
- 1 min read
Whatever happens in the housing market next year, renters and borrowing families will be the biggest losers.
SQM Research director Louis Christopher has released his latest annual Housing Boom and Bust Report and, while home values look like finally heading south in most capitals, borrowing power will follow suit thanks to the cash rate remaining above 4 per cent and possibly pushing higher. And as for asking rents? The only way is up.
SQM expects asking rents to rise between 7 and 10 per cent across capital cities in 2024, with Perth leading the way at 12-15 per cent.
Sydney and Brisbane renters can expect to be paying up to 10 per cent more than they are currently while Melbourne tenants face rises up to 9 per cent and Adelaide up to 7 per cent.
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