Many property investors and home buyers are looking for property market prediction or forecasts...they’re wanting to know what’s going to happen to real estate prices moving forward.
In short...
We’ve worked our way through many of the effects of the Coronavirus Pandemic and out of Australia’s first recession in 30 years.
Covid numbers are low and our economy is improving faster than most expected.
Historically low interest rates and FOMO (fear of missing out) will drive dwelling prices to record new highs with double digit growth on the horizon for many areas around Australia in 2021.
Already the year has started on a very strong note, with increased buyer activity at a time of lower availability of stock of quality properties in popular areas and this is reflected in rising property values and boom time auction clearance rate levels.
In February 2021 Australia’s biggest bank, the CBA upgraded its housing market forecast, joining the long line of economists that have done an 180° about face. They said surging momentum in the property market and leading indicators point to strong price rises, forecasting dwelling prices will rise 8% in 2021 and 6% in 2022 and believe house prices will rise 16% in that time.
Looking good, now’s the time...