Real Estate Market Outlook 2022
Real Estate Market Outlook 2022
When we talk property investment in Australia, residential property commonly comes up as the prime subject of discussion. This is likely due to many Aussie investors owning units and houses as this is the common way to enter the property market. However, we would like to bring your attention to commercial property investment which is shaping up to be another year of strong growth.
Property market trends
• In Australia the national average housing prices are expected to increase 5 to 7% in 2022
• Investment in commercial real estate is expected to see another record-breaking year with $68 billion of domestic capital heading the market’s way between now and 2024
• The global property market is expected to grow by 5.5% in 2022
How to navigate the current commercial property market
Understanding the market
As you work to understand the current commercial property market, it is important to note that there are many factors that influence its performance. Understanding these factors can help you to better assess the risks and benefits of investing in a specific property.
The first factor is understanding the property itself. This includes everything from its size, condition and location to how it’s being used right now. For example:
• What kind of space do you need? Do you need something that can accommodate growth or will be filled up quickly?
• How old is it? Older buildings are often cheaper but may require some updates before they can be used again; newer buildings tend to cost more but have fewer maintenance issues.
Understanding this information will help you know whether or not a particular building (or type of building) will meet your needs in terms of location and price point as well as provide insight into whether or not any future renovations would be required before opening for business.
Real Estate Trends 2021 – 2024
The real estate market is expected to remain positive in the next five years. The commercial property market will continue to grow, especially in urban areas where there are more jobs and higher wages. However, the residential property market is expected to slow down because of increased interest rates and affordability issues for many home buyers. Additionally, the rental market is forecasted to grow as more millennials look for more flexibility in their living arrangements compared with owning a home.
How to pick a good real estate agent
Good agents have a wealth of experience and knowledge related to the real estate industry. They will be able to answer any questions you may have about buying or selling a property with ease, and they won’t hesitate to get back to you as quickly as possible.
To find an experienced agent who fits this description, start by asking friends or family members for recommendations. Once those are exhausted, search online for agents in your area—this should give you a good idea which ones are highly-rated by their clients (and how long they’ve been doing business). Be sure not just focus on high ratings though; make sure each potential candidate has completed other successful transactions before deciding whether he/she is right for you!
As you can see, the real estate market is a complex ecosystem that’s always evolving. But with so many factors at play—from economic conditions to consumer preferences—it can be challenging to predict what will happen next. That’s why we’re here! Our team of experts is dedicated to helping you navigate the ever-changing landscape of commercial real estate. From property management services to investment advice, we offer a wide range of solutions for industrial and residential real estate.
