7th March 2020
It is essential to understand the statements below, when looking to Australian Property Investment.
There is NO SUCH THING as a global Australian Property Market , because where the cycle is in one region , it will not be the same in another. Each area must be taken in isolation to identify where the specific cycle is in that location.
Australia has entered its 28th year of consecutive annual economic growth, setting a new record among developed economies for uninterrupted expansion.
This enviable record of steady growth proves the robustness of Australia’s economy and its reliability as a low-risk and safe environment in which to do business.
The country’s strong regulatory institutions, ability to respond to global changes, and diversified, services-based economy underpin its steady growth. (extract Austrade.com.au)
Key parts of Australia's economy are started the year looking weak, but the housing market is one glaring exception.
There are early signs the first few weeks of 2020 have been strong for property, with two consumer surveys by banks last week showing people were becoming more bullish about bricks and mortar.
Commonwealth Bank said its survey of home-buying intentions had reached a record high. Westpac's survey of consumers also said house-price expectations had soared by a "staggering" 58 per cent in the past year.
Property in Australia remains strong with The Reserve Bank of Australia lowering the cash rate by 25bps to a new record low of 0.5 percent during its March meeting aiming to support the economy
New and innovative housing policies with the Governments of Australia address any housing situation very quickly.