Since early 2020, the Australian economy has been struck by an unprecedented succession of external economic shocks, in the form of the COVID pandemic and the public-health measures undertaken to fight it, the closure of Australia’s borders and the resultant collapse of immigration, disruptions to global supply chains, and geopolitical tensions and war throwing global trade into chaos.

But Australia’s eventual adoption of a “live with COVID” approach, combined with the government’s handling of the economic aspects of the pandemic — in particular, aggressive stimulus measures — have the nation and its real estate markets poised for successful recovery.

More recently, supply-chain pressures and a dramatic spike in energy and food prices in the wake of the Russian invasion of Ukraine have caused Australia’s inflation rate to spike: after ending 2021 at 3.5 percent, it sat at 6.1 percent at the end of the second quarter of 2022.

This has forced the R