SUMMARY

• Australia ’ s COVID-19 economic recovery is gaining momentum .

• Expats fueling national demand .

Knowledge is the ultimate currency . It can never be destroyed and it can be used over and over again without ever depleting its supply . The purpose of this weekly document Ray White Now is to empower you with real time insights to guide you to make informed decisions about the Australian property market .

Australia ’ s COVID-19 economic recovery is gaining momentum with consumer confidence at a sevenyear high , deferred loan repayments restarting and all economists are now predicting the resurgence in the housing market which we have been reporting for months .

Last week the federal government revealed a vaccine was likely to be available by March , paving the way for the gradual unwinding of social distancing restrictions and this in turn is supporting buyer confidence in the housing market too . All the major banks now believe the housing market remains strong . The Commonwealth Bank ( CBA ) chief executive Matt Comyn said recently that the drop in house prices from peak to trough could be as little as three per cent , with the latest RBA rate cut adding momentum and increasing interest in the market .

Meanwhile , Westpac ’ s latest consumer sentiment survey showed confidence jumped in early November to reach

SALES

LIVE LISTINGS

ONLINE

SEARCH

12 %

43 %

23 %

3 %

Source : Ray White data . 16 November , 2020

4 The information is general information only , not financial advice , and does not take into account your individual objectives , financial situation or needs .