Effect of opening borders on property market

What's everyone's bet on how it will affect the market? For thought experiment's sake, let's say fully reopened with no restrictions in our current interest rate climate.

My guess is the growth will cool but it will go sideways as everyone pauses their hunt/sales to go on holiday

 

Depends on the impact on immigration.

 

In the past everyone used to say that population growth from immigration was one of the main drivers of property price growth. They used to say that Melbourne used to be one of the main beneficiaries. However now to be honest I would have to say that it’s hard to judge because there are different growth drivers that may interact to produce different outcomes.
When the pandemic first hit many economists and property guru’s were tipping a 30 percent drop in values and they were wrong. Some gurus got it right when they joined the dots of low interest rates, easing credit and quantitative easing came into effect combined with low stock levels to predict a big boom. The borders were closed. Terry Ryder was one who predicted prices would boom. I’m sure that many were also looking at what was happening over in NZ, GB, Canada and the US with their prices as a guide to what was about to unfold here.
What will hapien next who knows. There is one thought that perhaps the local home grown buyers are now maxed out and can’t gear themselves any higher into debt. I think the next metric to look to may be unemployment and what words the feds are saying to the people as influencing factors.