What will the Australian property market look like in 10 years?

PHOTO: What are the factors shaping Australian property in the coming decade? (Photo: Getty)

The property market moves quickly, with new data every week, every month, and every quarter – and then there are predictions two years into the future about where it’s heading.

But before we get tangled in the weeds of crystal ball-gazing, it’s a good idea to step back and look at the factors that influence the property market in the first place.

Finance brokerage and property advisory founder Bushy Martin pointed out that property should be assessed over the long-term, and each property market moves through “a gradually increasing ‘S’ curve cycle”.

There’s been much coverage on the falling house prices across the nation, with the sharpest drops in Sydney and Melbourne in particular, but this has to be put into perspective, Martin said.

“While Australian property values have dropped 5.6 per cent nationally over the last 12 months, this correction is both normal and expected when considered over the longer term.”