RAY WHITE NOW THIS MONTH
Thankfully , the worst of COVID-19 appears to now be over . For property markets however , things have become a lot more complicated and this will influence both prices and rents over the next 12 months . Positively , our economy is firmly in growth mode and international borders have reopened . There is , however , a growing likelihood of interest rate rises and restrictions to finance . Flooding is impacting large parts of the eastern seaboard and construction costs are rising rapidly . While at the start of 2021 , there was consensus around what would happen to house prices , this year it ’ s harder to predict .
This month in Ray White Now we take a look at what you should consider if you ’ re looking to sell and detail what the main influences will be on the market . Now it isn ’ t all about COVID-19 but about many other changes that have been occurring and are expected to occur later in the year .
We also take a light-hearted look at some major real estate rivals around Australia and look at who the winners are in each state . While there are many types of rivals - businesses , people and even properties - as an economics team we have decided to stick to geographic areas . While Melbourne v Sydney is one of the main rivalries , we look a bit closer at rivalries within capital cities and close-by regional areas .
Finally , we have a look at coastal office markets - the regional move to coastal markets hasn ’ t just been people , it ’ s also been businesses . This is having interesting impacts on vacancy rates at a time that many CBD office markets are seeing rising vacancy .
We hope you enjoy this month ’ s Ray White Now .
Nerida Conisbee Chief Economist Ray White
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