JUST A BLOCK FROM THE BEACH
AND MINUTES FROM THE CBD, THIS MAY BE ONE OF THE BEST TWO-
BEDROOM UNITS ON THE MARKET.
House price growth around Australia has been slowing in recent months, after experiencing a period of sustained and unprecedented growth in Sydney and Melbourne in particular.
That trend looks set to continue in the short term and have been driven by tighter lending standards from Australia’s banking regulator (APRA) and the on-going Royal Banking Commission, along with weak wage growth, affordability constraints, an increase in apartment supply.
However, the long term property outlook is still upbeat and driven by many positive economic factors.
QBE recently released their National Australian Housing Outlook and here is a summary of their forecast for 2021 Economic Indicators
As you can see QBE are expecting:
1. Interest rates to rise a little over the next 3 years – but only by 0.5%, not the large increase in rates some are predicting, and this is unlikely to occur until 2020
2. Inflation slowly nudging its way up
3. Employment growth continuing, albeit at a slower rate
4. Continued strong population growth due to overseas migration
5. Our economy growing much the same as it has in the last few years.
It would appear that the current environment represents one the best buying opportunities in recent memory and a chance to take advantage of long term growth outlook.
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