I think the Australian unemployment rate will reach 5-6% in the next 1-2 years, to around levels just before Covid. What do you think? Please remember property markets aren’t affected necessarily by national unemployment numbers - but rather local markets are impacted by local unemployment conditions. For example in the mid 2010’s national unemployment was 6% yet Australia experienced the biggest property boom before Covid.
Senior Business Analyst at NSW Dept of Enterprise, Investment and Trade
10moInteresting perspective! It's important to acknowledge the influence of local factors on property markets.