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Property prices rise in every capital city in November: CoreLogic
The COVID-19-induced house price weakness appears to be over as house prices rose in every capital city last month for the first time since the pandemic took its toll, but experts warn that big risks remain next year.
National home values rose 0.8 per cent over November to a median of $565,474, the latest CoreLogic Home Value Index, released on Tuesday, shows.
And if the current growth trend persists, national values are likely to surpass pre-pandemic levels in early 2021, after falling just 2.1 per cent between April and September, CoreLogic’s head of research Tim Lawless says.
Another report suggests Australia’s Housing Markets will grow strongly in 2021
The forecasts for property forecast for 2021 are starting to come in thick and fast and they’re all very positive.
The latest is from SQM’s Louis Christopher who suggests that Australian capital city dwelling prices will rise in 2021 as a result of this year’s aggressive government stimulus, interest rate cuts and the upcoming changes to responsible lending laws.
This is in line with the forecasts made by all our major banks who over the last few weeks have sheepishly been forced to do a long overdue 180 degree turn, conceding that our property markets have remained resilient and they all now expect property prices to rise in 2021 and 2022.
Strongest regional Queensland market in six years: Hotspotting’s Terry Ryder
This is the strongest Regional Queensland market in the six years that Hotspotting has been conducting its quarterly surveys of sales activity and prices. The number of rising markets is the highest recorded, by a considerable margin, and property values are growing.
We have identified 72 locations with rising sales activity, a remarkable result in the year of the pandemic. Locations across the state are benefiting from the Exodus to Affordable Lifestyle and/or the improvement in the resources sector. Vacancies are ultra-low in most of these places.
Queensland Budget 2020: Property Market Wrap-Up
Property tax concessions are notably absent from the Queensland budget as the state details its plans for the year to come.
Instead 86,000 interstate migrants, health and education investments as well as infrastructure spending are expected to boost the state economy.
The Queensland budget follows New South Wales and Victorian budgets, which made way for property tax reforms and discounts particularly in the build-to-rent sector.
Coronavirus Australia live news: Early COVID-19 vaccine could boost economy by $34 billion, Treasurer says
Federal Treasurer Josh Frydenberg says Australia’s economy would be $34 billion better off if the coronavirus vaccine rollout can be completed six months earlier than expected.
He told News Breakfast that the Federal Budget had modelling for different scenarios, on the back of news that the UK had approved the use of the Pfizer-developed vaccine.
Australian property to bounce back in 2021: Finder.com.au survey
Experts are positive that Australia is on track to exit a recession, and that property prices will return to 2019 levels next year, according to this month’s Finder RBA Cash Rate Survey.
Of the 40 experts and economists who weighed in on future cash rate moves and shared their key economic and financial predictions for 2021; all 40 correctly predicted that the cash rate would remain at 0.10%.
From the closure of major bricks-and-mortar retail stores to the national uptake of a COVID-19 vaccine, experts were asked to rate the likelihood of various economic scenarios unfolding in the year ahead.