Perth’s 2024 property market will see various push-pull factors at play between a supply shortfall, strong population growth, interest rates and a tight rental market. Affordability will contain the pace of price growth, and interest rates are expected to stay high for some time. However, with inflation now cooling faster than initially forecast, the odds of a rate cut or two later in the year have risen. This will likely boost consumer confidence – which had begun to marginally improve at the end of 2023 – and have a positive influence on housing market activity.

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