The value added of real estate in Australia has shown consistent growth from 2013 to 2019, with a noticeable dip in 2020 likely due to external economic factors such as the global pandemic. The sector then recovered with strong growth in 2022. As of 2023, the sector stood at 237.76 billion AUD. The year-on-year percentage variations indicate fluctuating growth rates with an average compound annual growth rate (CAGR) of 2.73% over the past five years.
Key upcoming trends to monitor include:
- The forecasted 5-year CAGR from 2024 to 2028 is 1.92%, suggesting a moderate but steady growth trajectory.
- Real estate industry stakeholders should watch for economic recovery patterns, changes in housing demand, and the impact of governmental policies and interest rates influencing the market dynamics.
