Consumer confidence is continuing to improve as has business confidence.
- COVID-19 numbers are very low with the prospect of a vaccine around the corner.
- Auction clearance rates have been strong in Melbourne and Sydney; Brisbane is experiencing more robust clearance rates compared to past years.
- First time home buyers are back in the market taking advantage of government incentives.
- Our economy is improving faster than many expected, we are in for a quick and sustained recovery, although there are always those media commentators that are spouting doom and gloom come March when Jobseeker and Job keeper are no longer.
- Buyers and sellers are active in the market, although most Brisbane markets are still behind on a number of transactions, due to limited stock, prices are on the rise with 3% growth over the last 12 months.
- Money is cheap now; interest rates are at an all-time low and banks are lending to investors again. Mortgage deferrals have been falling and there is no chance of an avalanche of mortgagee sales. The latest rate cut and a guarantee of rates remaining low over the next 3 years will give home buyers and investors’ confidence.
- Property investment is a game of finance with real estate thrown in the middle, when finance flows freely and people take out loans before they commit to purchasing a property, then the next logical step is rising property prices.
- Moving forward further job creation, consumer confidence and business spending will underpin our housing markets. (Yardney, 2021 – What’s ahead for our property markets for 2021).