WHITSUNDAY E-NEWS REAL ESTATE: 3rd week of Feb
IN CASE YOU MISSED IT: Please do watch our last week’s e-news with the video above. You can also read this recap on what Annette Harm has to say about house price growth.
There’s been a lot of talk about the market and the sales market, particularly how active it’s becoming.
Some interesting stats come out about pricing, particularly around capital cities, where most of the data comes from.
So from March to December 2020, every capital city has seen positive growth in prices except for Sydney and Melbourne.
They went close to PRE-Covid prices at the end of the last calendar year.
We know the regional areas are booming even more than the capital cities. So on the back of that, many people were talking about how well the Australian economy is doing and then start talking about inflation, which, as we know, inflation is the main catalyst towards interest rates.
So at the moment, interest rates could not be cheaper.
When will they go up? There is still uncertainty, and we
we don’t know the answer to that question at this time.
For the Reserve Bank to move, they need sustained inflation rates of between 2 to 3%. To get to that, we need wage growth and which means we need more employment.
The RBA predicts that’s probably not going to happen until 2024, meaning that we’re going to see these low-interest rates for quite some time to come.
So loans have never cheaper.
We feel pretty good overall in the economy.
Now really is the time to get into the market. Give us a call and see what we can do.