WHY SELL NOW ?
There ’ s always a reason to sell ! This month , we take a look at some of the things that you should consider if you ’ re looking to go to market this month .
1 . PRICE GROWTH IS SET TO CONTINUE
Price growth since the start of the pandemic has been unprecedented . Not only in its strength but in the way it ’ s been so consistent across Australia . Whether you ’ re in a regional area , inner city , or outer suburb , we ’ ve seen increases . It would be rare to find anywhere not impacted by this pandemic-driven boom .
With strong price growth comes big increases in home loans so it was no surprise that the Australian Prudential Regulation Authority ( APRA ) stepped in late last year to put the first set of restrictions in place to slow things down . While the restrictions are currently mild , we ’ re likely to see further restrictions if they don ’ t work as hoped . Furthermore , although an interest rate may or may not happen this year , there ’ s a growing realisation that they will possibly increase more quickly than anticipated . These things combined have led to a gradual shifting in sentiment towards property and this is likely to slow down price growth .
While it ’ s almost certain that price growth will be slower this year compared to last , at this stage , we ’ re not looking at a decline in prices . APRA is moving carefully and higher inflation is not surprising anyone , least of all the Reserve Bank of Australia ( RBA ). Confidence in property remains high and we ’ ve now reopened international borders which will once again lead to population growth rates we are more accustomed to , further supporting property demand . This year will be a growth market , but it will also be a much calmer market .
House prices (% change ) since March 2020
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