Thankfully, the worst of COVID-19 appears to now be over. For property markets however, things have become a lot more complicated and this will influence both prices and rents over the next 12 months. Positively, our economy is firmly in growth mode and international borders have reopened. There is, however, a growing likelihood of interest rate rises and restrictions to finance. Flooding is impacting large parts of the eastern seaboard and construction costs are rising rapidly. While at the start of 2021, there was consensus around what would happen to house prices, this year it’s harder to predict.
This month in Ray White Now we take a look at what you should consider if you’re looking to sell and detail what the main influences will be on the market. Now it isn’t all about COVID-19 but about many other changes that have been occurring and are expected to occur later in the year.
We also take a light-hearted look at some major real estate rivals around Australia and look at who the winners are in each state. While there are many types of rivals – businesses, people and even properties – as an economics team we have decided to stick to geographic areas. While Melbourne v Sydney is one of the main rivalries, we look a bit closer at rivalries within capital cities and close-by regional areas.
We hope you enjoy this month’s Ray White Now and we’re proud to be providing you with relevant, timely and interesting content and data in 2022.
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Australian house and unit prices continue their upward trend this month, albeit at a slower pace. Both housing types saw a modest 0.2 per cent appreciation. However, the market is exhibiting greater diversity across states and regions, reflecting varying local economic conditions. July’s CPI results indicate a continued downward trend, … Read more