#1: Interest rates and lending controls Easier finance means more active buyers. Lower rates mean cheaper mortgages and higher borrowing capacity, driving competition and prices.
#2: Wages growth and consumer sentiment Buyers need stable income and savings. When wages increase and confidence is high, markets perform well.
#3: Affordability After sustained growth, buyers get priced out. Many wait rather than settle, reducing competition and softening growth.
#4: Population and demographic changes More people moving to an area increases competition and prices. Young families drive house demand, while students favor apartments.
#5: Supply of new listings Limited listings drive prices up. When markets flood with properties, buyers negotiate better. Brisbane and Adelaide show strong growth with limited supply, while Sydney and Melbourne have stagnated.