Australia Real Estate Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 3.4% (2024-2032)
The rising population in Australia is driving the demand for housing, retail space, and other infrastructure, which represents one of the key factors strengthening the growth of the market. According to IMARC Group, Australia real estate market size reached USD 130 billion in 2023. Looking forward, IMARC Group expects the market to reach USD 176 billion by 2032, exhibiting a growth rate (CAGR) of 3.4% during 2024-2032.
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Australia Real Estate Industry Trends and Drivers:
The real estate market in Australia has changed a lot in recent years. The Reserve Bank of Australia has raised cash rates. This has led to higher mortgage repayments. As a result, demand dropped, and price growth slowed in many parts of the real estate market. Certain areas in the market, however, have remained quite resistant to these pressures. Regional areas still attract visitors looking for affordable homes and lifestyle changes. Interest grew during the pandemic and has remained strong. There has been a big drop in the rental market. Vacancy rates are at all-time lows in major cities, especially Sydney and Melbourne. This has led to rising rent prices. It has made life harder for tenants but created investment opportunities for investors. First-home buyers face stricter lending rules and higher deposit needs. Some government incentives and schemes exist, but they often offer little help. The market shows cautious optimism. Buyers and sellers are ready to adapt to new economic changes.
Australia is ready for a stable property market. Interest rates have peaked, and inflation is starting to fall. Sydney and Melbourne are a bit slower than other cities in gaining momentum. Improvements should show up as affordability pressures ease and buyer confidence returns. More international migrants and students boost the need for inner-city apartments and rentals. On the other hand, growth in the regions might slow down as pandemic-driven demand decreases. Sustainability and energy efficiency matter more to buyers now. Properties with solar panels, energy-efficient designs, and eco-friendly features cost more. Developers are responding to this demand. They are now launching new projects that include green features. The rise in remote work affects buyer choices. Many now want home offices and flexible living areas. Construction costs and labor shortages remain problems. Still, the long-term outlook for the Australian real estate market is positive. Strong fundamentals and population growth back this. Stakeholders need to be flexible. They should respond quickly to new trends and economic growth.
The Australia real estate market forecast offers insights into future opportunities and challenges, drawing on historical data and predictive modeling.
Australia Real Estate Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Property:
- Residential
- Commercial
- Industrial
- Land
Breakup by Business:
- Sales
- Rental
Breakup by Mode:
- Online
- Offline
Breakup by Region:
- Australia Capital Territory & New South Wales
- Victoria & Tasmania
- Queensland
- Northern Territory & Southern Australia
- Western Australia
Competitive Landscape:
The competitive landscape of the industry has also been examined, along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current, and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
Street: Morgan Park QLD 4370
City/Town: Warwick
State/Province/Region: Queensland
Country: Australia
Zip/Postal Code: 4370
Email: sales@imarcgroup.com
Phone Number: +1-631-791-1145