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Housing Market Outlook 2023

Perhaps the biggest influence on the global housing market thus far has been the hike in interest rates. By mid-June 2022, at least 45 countries had raised interest rates in a desperate bid to contain the most rapid inflation in decades. Some countries like the US, UK and Australia had raised bank rates no less than 7 times by the end of 2022, whilst Singapore had tightened its monetary policy 5 times. 

Unlike 2021, which was a year of exceptional house price growth, 2022 was a year of 2 halves with growth marking the first half, and a slowdown blighting the latter half. As the spectre of interest rate hikes looms over 2023, how are housing markets impacted and what are the mistakes that investors should avoid? 

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