Market Essentials - March 2023

The latest PropTrack data this month shows the market downturn is losing momentum, with the overall national home prices rising by 0.18% in February caused by tight supply and continued buyer demand.

However, according to Realestate.com.au Senior Economist Eleanor Creagh, this may not be the end of the downturn just yet. She says that ‘with additional rate rises expected, borrowing costs will continue to increase and borrowing capacities will be further reduced, weighing on prices’.