Until the start of the new fiscal year in July 2021, the pandemic still caused many difficulties for our country, but with the help of the federal government's clever economic measures, the economy began to follow a winding path to recovery. The first mortgage scheme was expanded to accommodate an additional 10,000 applicants by June 30, 2021.
2. BEFORE JULY 2021
Until the start of the new fiscal year in
July 2021, the pandemic still caused
many difficulties for our country, but
with the help of the federal
government's clever economic
measures, the economy began to
follow a winding path to recovery.
The first mortgage scheme was
expanded to accommodate an
additional 10,000 applicants by June
30, 2021.
Home prices soared at an
alarming rate, and Canberra's real
estate market set a new record for
home price increases, surpassing
the list of the most expensive rental
markets in other capitals..
3. The federal budget from 2021 to 2022 sighed investors' relief that
the property taxes had not changed. Negative gearing and capital
gains remain unchanged, thereby promoting investor stability by
maintaining the current regime. First-time homebuyers, single
parents, and the Australian region were empowered by offering
targeted programs designed to address the issue of affordability
of homes while preserving the value of existing homes
4. DURING THE FIRST QUARTER OF FY21-22
New South Wales enters a new fiscal
year in lockdown with the Delta
variants hitting the Greater Sydney
area, increasing infections and urging
other states to close their borders.
The 2021 Intergenerational Report was
published with the aim of forecasting
the future of Australia's economy for
at least the next 40 years.
In the release of this report, there are
many investors, first homeowners and
buyers thinking about what to expect
from the Australian real estate market
in the short term.
The consensus among real estate
experts at the time was to revise the
expected price increase in 2021
upwards and predict that the 2022
slowdown would occur without retreat
until 2023.
Average home prices in Canberra rose
above $ 1 million. Unicorn City has
become the third most expensive
capital of the Australian market.
6. According to CoreLogic data, lockdown did little to mitigate
rising home prices. They rose 1.5% during the period when
most of Australia's population was locked down, and rose
17.6% nine months ago.
The International Monetary Fund (IMF) called on Australian
regulators to curb real estate prices in Sydney and Melbourne,
raising concerns that real estate may have overvalued.
Australian Finance Minister Josh Frydenberg endorsed the call
because of the need to reassess the situation in
macroprudential.
The Australian Prudential Regulation Authority (APRA) took
immediate steps to strengthen its responsible lending
requirements by raising the lender easement requirement to
at least 3%. These quick first steps went against the trend that
20% of loans are made to borrowers who have access to
financing six times their household income.
7. According to a 2021 Australian Real Estate Investment Expert
(PIPA) survey, 62% of respondents thought at the time it was a
good time to invest, 76% of respondents believed real estate
prices would rise in the next 12 months from the time they
respond. 34% were concerned about having access to the
right funds to reach their investment goals.
By the time November rolled around Sydney, Melbourne and
Canberra had been released from lockdown and the spring
sales season was in full swing. The property list began to
increase from mid-September to mid-October 2021, and the
new property list increased by 28.2%. In the week ending
October 24, 2021, Canberra achieved a clearance rate of 99%
and Sydney came in at 90%.
8. Real estate prices in Australia continued to rise, the
Renaissance was in full swing, and some regions, such as
Ballina Byron, the Southern Highlands, and the Sunshine Coast
of Queensland, are rapidly catching up with capital prices.
The RBA continued to stabilize interest rates until the next
meeting in February 2022, but the value of Australian real
estate increased $ 48.7 billion in the previous quarter to a total
of $ 9 trillion. Home prices rose 1.3% in November androse 22%
last year. However, these monthly growth rates have fallen
from the 2.8% surge in March.
9. The Australia's housing market was fairly stable in 2021. There
was some volatility, but in most cases it was on a strong
uptrend and can be seen as a good sign for 2022. The future
may be bright, but don't forget our past.
Contact our team today for more information on what this
means for your real estate portfolio. We are happy to answer
any questions or concerns about the best way to profit from
Australia's positive real estate trends.
10. GET IN TOUCH
EMAIL ADDRESS
perly@pmrealty.com.au
PHONE NUMBER
(02) 9669 1010
LOCATION
Shop 2/19-21 Church Ave, Mascot NSW 2020