The Australian Housing Market – Responds!
Congratulations on a great election outcome Australia, as a result you will be rewarded and quickly it seems. The election (which was critical to the welfare of all Australians in my opinion), has already delivered some extremely positive outcomes and sentiment among people is rising;
- A.P.R.A. will reduce the rate at which people will be assessed, investors included.
- The new housing policy to essentially underwrite the balance of deposit (5-20%) required to meet mortgage insurance for first home buyers is fantastic. This will help a large number of hard working Australians trying to get into the home ownership market in Australia.
- Westpac Bank have forecast the R.B.A. will issue three interest rate drops in 2019 to encourage further spending.
- Property Analysts are suggesting Sydney and Melbourne will begin to recover in 2020, with apartments in Sydney possibly later. Adelaide, Perth and Darwin will take longer to recover than locations on the Eastern seaboard.
- South East Queensland will continue to strengthen with the approval of the Adani Coal Mine in the next 2 weeks. The new mine will create a lot of work throughout all of Queensland with associated businesses and services required while the mine is under construction.
Australia’s Housing market will certainly benefit. The banks will continue to qualify people based on strict criteria however, the changes noted above will also provide a lot of confidence to investors, home owners and first home buyers alike.
Investgo Property Group will suggest that South East Queensland and larger regional locations will provide investors with the best opportunities throughout the next 2 years. The Gold Coast Apartment Market and Premium Housing Estates will also become highly sought after and offer strong growth opportunities. As always please keep in mind we do not endorse or seek so-called ‘BOOM’ locations, we look for strong, sustainable economies with population growth.
Our aim is to provide Quality Properties in Growth Locations – Always!
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