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Australia’s five most powerful people in property for 2023

Australia’s five most powerful people in property for 2023

The sector has been riding the interest rate rollercoaster as housing supply moved to the top of the national agenda. From AFR Magazine’s Power issue.

The crunch in values is being felt the most in the office sector as it grapples with rising vacancy and the work-from-home trend.  Louie Douvis

Nick LenaghanProperty editor

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The fortunes of the property sector – all the way from the housing market to CBD office towers – have been riding the rollercoaster of the interest rate cycle over the past year. Nowhere was the volatility more apparent than the housing market, where prices plunged throughout last year. By early this year though, a modest recovery emerged as buyers, sellers and lenders took heart that the end of the cycle was in sight.

That hasn’t helped in the rental market, where a lack of supply has pushed rents sky high. Making matters worse, builders buckled under fixed-price contracts as costs soared. Solving the housing crisis by delivering more supply tops the national agenda, for government, business and the not-for-profit sectors.

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Nick Lenaghan
Nick LenaghanProperty editorNick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com

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Original URL: https://www.afr.com/property/commercial/australia-s-five-most-powerful-people-in-property-for-2023-20230816-p5dwwl