5 Biggest Property Trends to Watch In 2023

Property trends are constantly changing and evolving, so it’s important to stay on top of what’s happening in the market.

In this blog we’ve included what to look for now, so you can make smarter decisions about your future real estate investments.

Here we’re going to look at five of the biggest property trends for 2023:

1. Affordable locations dominate growth

The surge in prices amid the pandemic has led to priced-out buyers finding more options in affordable areas, particularly in the capital cities of Perth, Adelaide and Darwin.

The best-selling municipalities over the year are dominated by capital city areas that provide a degree of affordability in times of elevated prices and rising interest rates.

2. Increase in property investors

In the past, owner occupiers were the main drivers of property market activity. Now, investors are taking their place and making up a greater proportion of buyers than ever before. This is mainly due to their increased financial flexibility, with many investors able to purchase properties without needing bank finance or borrowing money from friends and family.

Investors often prefer areas where there is more growth potential in terms of population growth and new infrastructure development (such as rail lines), as well as areas that may have an above-average rental yield compared to other regions in Australia.

3. Development of infrastructure

If you’re looking for an asset class that will stand up to the test of time, infrastructure is key to the success of your asset. Government money is gold!

4. More focus on sustainability

Sustainable building materials, sustainable homes and sustainable communities will be a big part of the property industry in 2023. The concept of ‘green’ has been around for decades but with increasing environmental awareness and climate change, there is now an even greater emphasis on finding ways to use natural resources with minimal impact on the environment.

5. Perth and Adelaide have become more popular

Suburbs in Perth and Adelaide dominated the list of 100 ‘supercharged suburbs’, where there was a patter of increasing sales activity over three or more consecutive quarters. More than 40% of the locations are suburbs in Adelaide and Perth.

Perth is the nation’s most vibrant market where about three-quarters of suburbs are rising. While Adelaide continues to be a solid performer.

Preparing for Future Property Trends…

can help you make smarter investment decisions.

For example, if you’re selling your house or apartment in the next few years, knowing about some future trends helps you plan for a successful sale.

If you’re planning to purchase a property soon and want to know where prices are likely to go in the future (and how much profit potential there is), it’s also useful to know what you should be keeping in mind.

If you want to make sure that you’re buying at the right time and getting the best deal possible then it pays to understand what property trends are on their way into our market in the next few years.

By keeping an eye out for these five major trends it’s possible to get ahead of what might otherwise be unpredictable changes in prices and demand.

If you’re looking for a property investment that will help you achieve your goals, we can help. If you’re unsure whether or not you are in a financial position to do so, we can help assess this for you.

At Wealthology, we take the time to get to know our clients and their needs, so we can help find the best way to achieve their goals.