We noticed the sales market taper-off in the second half of 2022.
Rising interest rates have affected the sales market, causing stock levels in the City of Kalamunda to increase by about 50%. This gave buyers more choice, meaning the growth of our median sales price was slowed.
The rental market has a habit of following the sales market. In 2022, we saw rental properties achieving soaring rents, in which we hadn’t seen in YEARS. We expect to see more homes up for rent, creating competition and forcing a decrease in rental amounts.
After 3 years of solid growth, our prediction is that both the sales and rental markets will flatten off this year, and we could see some decline across all suburbs.
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