The Year The Market Moved

"We all know the last 3 years have been tough, "but we expect things will change this year." The market dropped in December 2021 (thank you CCCFA), and a raft of aggressive interest rate hikes paid rest to any chance of house prices holding. When you restrict access to capital, through policy and/or the cost of money, asset prices will fall. But things might be changing in 2024.

Number 1, the market has already largely been reset (that was the work of every sale in 2022 and 2023). Asset prices are now at a level where many buyers can afford the lending to own them. And while we are not expecting the market to run away any time soon, we are expecting homes under $1.5m (average buyer market) to sell faster than in the past few years, with a ripple effect for rural/lifestyle and higher priced homes to follow later in the year.