The housing market for cats, just this wave 🌊

Cat Town's property prices have unexpectedly risen by 20% in the past two years. Everyone's asking: why? Despite high interest rates, why are property prices still soaring? The reason is simple: in Australia, property prices are more closely tied to demand than interest rates. After the pandemic, Australia saw a sharp increase in population influx, up to 500,000 people. These international students and immigrants need a place to live, right? With demand skyrocketing, property prices naturally surged. Let's talk about construction costs next. With inflation, building costs are high, leaving little profit in constructing houses. Melbourne's new areas also can't keep up with the construction pace. As a result, properties in older and established areas become highly sought after. Looking at Cat Town's 2024 property prices, it seems promising. The opportunity for wealth hides in the fastest growing areas, particularly in the southeast. Think property prices are already high? Not necessarily. According to forecasts, if interest rates don't drop next year, Cat Town's property prices could rise by 10%-15%; if rates drop, the increase could be even more rapid! That's settled then. Cat Town's real estate presents a big opportunity in 2024, and we're here to witness it! Let's reconvene in a year and check the results. Remember to bookmark this article 👀. That's our cheerful decision!