According to The Australian Financial Review, house prices in inner-ring suburbs in capital cities are poised to outperform this year, fuelled by wealthy home buyers and those who gained large amounts of equity during the pandemic boom, experts say.
Buyers who are receiving financial and practical support from families, an emerging force in those markets, could also drive prices higher. Jarden chief economist Carlos Cacho said this pool of buyers would continue to dominate the housing market until interest rates fell. “I think until we see rate cuts, the market will remain driven by higher-income or wealthy buyers,” he said. “Given these buyers are generally concentrated in the inner-ring suburbs, it probably means those areas will continue to outperform. https://www.afr.com/property/residential/the-dominant-force-driving-house-prices-higher-20240214-p5f4sj
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