Market Essentials - November 2023

The end of the year is fast approaching, with most capitals experiencing a strong recovery on dwelling values from the downturn that culminated at the start of 2023.

The recovery is mainly due to an influx of immigration and constricted supply, which the Government is trying to remedy with its ambitious goal of building 1.2 million homes by 2029 through HAFF.

However, according to an ABC report, the industry is only able to deliver about 175K properties per year at current capacity; although, Prefabricated Building Industry claims these figures can be boosted with modular construction.