The Realest Estate has been productive thus far in 2021, selling properties and opening a new office in South Yarra! So the lockdowns may have been a sigh of relief, providing the opportunity to slow down a little... Which is healthy for me, I guess!
There is no doubt that Melbourne & Victoria went through a very rough patch in 2020. Our case numbers peaked at 700 cases per day, and we went though the world's longest and toughest lockdown ever. Coincidentally, the Melbourne property market corrected the most out of all the property in Victoria. However throughout all of this, the Melbourne market has proven that it can be the most resilient also. Consumer confidence back to a 2 year high.
New lockdowns means a fresh round of stimulus to be pumped into the Victorian Economy again. Can you have a guess what that will do to house prices? A nice recovery perhaps?
2021 has been intriguing from the get go.
So have you heard about the Andrew’s Governments $350B pledge? Yes, of which $155B is funded by debt (approx $21,000 per Victoria) How do we pay back this debt? Through property of course!
Buyers are lining up again.
The Realest Estate have had numerous properties going to auction in January and February of 2021, receiving numerous offers beforehand.
If you’re selling, you may want to beat the glut of properties that are expected to hit the market in March when JobKeeper finishes.
CBA forecasts 16% rise in Australian properties over 2021 & 2022. Why? Because of debt levels of course. And this money printing and stimulus ain’t going to stop.
If you're on the fence and thinking about getting into the property market, don’t wait until my next blog - it may be too late! Take advantage of the capital gains and secure your future now!