Top 10 suburb picks for Australian investors
They say a rising tide lifts all ships, as was the case throughout the 2022 property boom, but as the market turns there's going to be a lot of diversity when it comes to suburb performance.
While some markets will struggle, others still have an especially promising future. BuyersBuyers' latest Investor Special Report highlights suburbs showing the most potential around the country, so property enthusiasts take note.
We spoke to Pete Wargent, co-founder of buyer's agent network BuyersBuyers and one of the report's authors, to find out more about their top suburb picks and the future of Australian property.
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What do buyers, sellers and investors need to keep in mind?
The market has been changing swiftly over the past few months, but the real estate cycle always brings peaks and troughs, and there may be positive news on the horizon.
"If you look further ahead, markets are actually expecting interest rates to start falling again next year. Inflation expectations over five and 10 years are already well anchored," Mr Wargent said.
His advice is to approach things with a level head and avoid getting swept up in the wave of media negativity.
"The pandemic has driven more short-term thinking. People tend to be short-term thinkers anyway, but the pandemic has really accentuated that because things have been changing so quickly," he said.
"I think whether you're a buyer or a seller, you probably just need to take a step back and try and think strategically — ask 'what's your 5 and 10-year strategy?' instead of responding to the next media headline, the next trend, talk about the next interest rate hike or whatever it might be."