Jul 21, 2021
We’re well into the second half of 2021 now so it’s a good time to reflect back on the year so far and then look forwards to what’s ahead.
Property values across our capital cities have experienced double-digit growth already this year.
And despite the Covid concerns we’re experiencing, there’s plenty more growth to come.
Clearly, buyers are still out in force – owner-occupiers, investors, and first home buyers – at a time when available supply is struggling to keep up, keeping pushes prices higher.
While much of the commentary is about the micro factors – what’s happening on the ground in our property markets – I like to regularly get together with property commentator Pete Wargent in these Big Picture podcasts to look at the macroeconomic factors affecting our economy and the property markets to help give you some more clarity about what the future holds so you can make better investment and business decisions.
Since we spoke last month Australia’s economic recovery has continued to unfold, more jobs have been created and our property markets keep surging.
Australia’s Property markets
All our capital cities have already experienced double-digit growth this year other than Perth.
Homebuyers and property investors who took a long-term view have already enjoyed significant capital growth.
Australia's households just keep getting richer.
The RBA and interest rates
Governor Philip Lowe’s announcement telling us that the economy is doing much better than previously forecast resulted in speculation that an interest rate increase may come sooner than expected
Latest housing finance figures
Metropole’s Strategic Property Plan – to help both beginning and experienced investors
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Pete Wargent’s new book Low Rates High Returns
Shownotes plus more here: The Big Picture | Economic & property trends you must understand – July. With Pete Wargent
Some of our favourite quotes from the show:
“The markets turned in October last year, and they’ve gone gangbusters ever since.” – Michael Yardney
“We’ve never had as many first homebuyers, so housing is affordable. Maybe not right in the centre of Sydney or Melbourne, but there are still opportunities.” – Michael Yardney
“I can see an employment rate with possibly even a 4 in front of it, moving forward.” – Michael Yardney
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