2022 promises to be the most fascinating year in real estate in a long, long time.
2021 was a relatively straightforward time in terms of what was happening in residential property – in simple terms, prices were rising pretty much everywhere.
Indeed, most locations across Australia recorded double-digit growth in house prices throughout the year. Many locations rose by more than 20%.
2022 is shaping as a more segmented market – or, put another way, 2022 is expected to be a more normal market.
A normal market in Australia is one where some locations are rising strongly, some are rising moderately, some are marking time or stagnating, and a few have falling prices.
This is because property markets are essentially local affairs. Property markets outcomes are dictated by local economic conditions, and these tend to vary from one place to another.
So in 2022 we will see different market scenarios evolving in different locations across the nation.
While there has been a nationwide property boom over the past 18 months, some locations have had strong property markets for much longer than that.
There are places in Australia which have had major growth in their property prices for the past three, four or five years.
In 2022, some of these locations may start to fade.
But many other places are just getting starting on their growth cycles and will continue to deliver big price increases in 2022 and beyond.
So how do you determine which is which – and how do you decide which are the best places to buy.
Hotspotting has two new reports which can answer those questions for you.
One is the new 2022 edition of our National Top 10 Best Buys report. This nominates the 10 locations across Australia that stand out for their growth prospects, taking a longer-term view.
The other is the new Summer edition of The Price Predictor Index. This report classifies every significant suburb and town in the nation in term of its current growth patterns, providing a unique guide to prospects for price movements in the shorter-term.
So, the ideal way to be make informed decisions about where to buy and where not to buy is to get a copy of both these reports: the National Top 10 Best Buys report and the Summer edition of The Price Predictor Index.