Australia’s property market defied expectations in 2023 by seeing house prices rise, despite 13 interest rate hikes within the year. Sydney values increased as much as 10.2%, whereas cities like Brisbane, Perth and Adelaide all saw significant price growth last year. The unanticipated boom can be explained by factors, such as strong international migration and tight rental market. While forecasts for 2024 are mixed, it is never too early to start planning strategically and get ready for more pleasant surprises.

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