my understanding is that Australian house prices will NOT drop back to preCovid levels....ever. Here is my reasoning.
We have limited land being released to built new properties, so supply is limited and always will be. (Bring on the Voice to limit more land)
Labor increasing immigration (1,500,000) will bring in an influx of people (Demand).
People always need a place to live and will do almost anything to get a house/roof over their heads.
Lastly - - People fleeing Victoria in droves, and to some extent NSW, into QLD have driven our prices up here in Bundy. The normal house here for $380,000 in 2015, is now easily $550,000 for example. The old 2 bed wooden 60yr old cottages are now selling for $380,000+.
Check out youtube "Investment Rise TV" "Pumped on Property"
Book ==> Mastering the Australian Housing Markets (John Lindeman)
