Markets spanning the globe have all had to face a reality wherein trends become rather unstable to rely on. The real estate market is no different, especially when it comes to the pandemic. There are few markets that have proved truly pandemic proof, but there are some that have proved pandemic resistant.
With this in mind, there are still numbers available to help determine what the trend could hold for the future. Whether these trends bear fruit to profit depends on whether they are carefully and objectively researched.
Where Should You Start To Look When It Comes To Real Estate?
With how quickly things have been changing recently, it is important to remember to establish a base of understanding. The year 2019 was wrapping up an exponential growth for real estate not seen for a decade. According to ABC.net, “national house prices soared by 4 per cent — the fastest rate of national dwelling value growth over any three-month period since November 2009.” The growth signalled a positive outlook for the year, especially considering there was only one region that had reported a small decrease.
The trends show a similar sort of effect occurring this year. According to managecasa.com, August saw a .8% rise in home prices, with Sydney seeing the greatest growth at 11%. This provides a wide-lens view of what will come about, steadily. As expected there was a decline, but even this did not dampen or derail the market too negatively. Despite the initial scare of 2020, the real estate rate of growth seems consistent with what was expected.
There was still some to be seen despite December hogging the largest overall growth. In places like Adelaide, Perth and Canberra, an incremental invigoration could be seen by the way of rising price and opportunities. Even Darwin experienced this, Darwin being the only region to report a decrease at the same time last year.
What Does This Mean For Real Estate’s Future Property Growth?
According to propertyupdate.com, there is also reason to believe the upward trend is one that is serviceable in terms of facilitating reasonable growth. Among the list, one can find a consistent increase in consumer confidence towards real estate itself. Furthermore, because account loan deferrals are falling at a steady clip, banks have become keener on writing new business.
The real estate market was not necessarily immune to the pandemic that engulfed the world— very few were. However, the foundation of the economic principles allowing a mechanism for resurgence and adaptability remain firmly within the place. The consideration of Australian real net worth tripling from $2.8 trillion in the ’90s to $10.3 trillion in 2018, according to Royce Kurmelov, suggests a clear, adroit, and even keel maneuvering of the market as a whole.
It is clear that Australian real estate has a rich tapestry of diverse opportunities. This is obvious to anyone who can see the observable pattern emerging within the real estate market itself. The pandemic resistant nature of the market is yet to be completely understood and realised, but there is definitely enough evidence present to understand that it has found a way to weather 2020.