Analyzing the value added of real estate in Australia from 2013 to 2023 reveals a consistent upward trend. The value in 2023 stood at 248.14 billion Australian dollars, marking a steady increase from 173.13 billion in 2013. Year-on-year growth rates have varied, with higher growth between 2013 and 2014 at 7.55%, and more temperate growth in recent years, such as 3.22% in 2023. The compound annual growth rate (CAGR) over the past five years remains solid at 3.7%, indicating a robust growth trajectory.
Looking forward, forecasts suggest a continued growth, although at a slightly slower pace with a forecast 5-year CAGR of 2.24%. By 2028, the value is projected to reach 285.71 billion Australian dollars, translating to an 11.69% growth over the forecast period.
Future trends to watch for:
- Potential impacts of economic policies and interest rates on real estate investments.
- Technological advancements and their integration in real estate practices.
- Changing demographics and urbanization trends influencing housing demand.
