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24.01.2022 Here is an excerpt from Corelogic's "Hedonic Home Value Index " report that expertly summarises the current situation for our housing market. Overall, Australia’s housing market is now well entrenched in one of the strongest growth phases on record. For housing values and activity to be surging during a global pandemic seems counter intuitive, however the factors driving this growth are significant and diverse.... Record low mortgage rates look set to remain in place for a prolonged period of time, providing confidence to buyers and historically low interest payment to income ratios. Economic conditions are consistently beating forecasts, with the RBA acknowledging Australia’s economy is likely to recover six to twelve months earlier than originally expected. The economic recovery is feeding into a solid rebound in consumer sentiment and encouraging households to reduce their savings buffer and spend more. Advertised supply remains around record low levels, at a time when buyer demand is rising swiftly to above average levels. This mismatch between demand and supply looks set to remain a feature of the housing market for some time. There are some headwinds ahead in the form of a reduction in fiscal support from the federal government, home loan deferral arrangements expiring and migration remaining stalled. The intensity of these headwinds have lessened over recent months. The economy navigated the earlier fiscal cliff relatively seamlessly, however the wind-up of JobKeeper and the COVID supplement for JobSeeker is likely to cause a temporary slowdown in the economic recovery which could slow some of the housing market exuberance. Similarly, there has been a substantial drop in deferred home loans. Down from $195 billion (11% of all home loans) in May last year, APRA reported that $32 billion or 1.8% of all mortgages were still deferred at the end of January. As the deferral program expires at the end of March we could progressively see a rise in forced sales across some sectors of the housing market. Housing price momentum looks to be skewed towards the upside, with the tailwinds of low rates, improving economic conditions and consumer confidence, low supply and high consumer demand likely to outweigh the headwinds associated with the coming wind-down of fiscal support. Contact us today https://premiumpropertyprofits.com/contact-us/ to talk about how we can help you achieve your investing goals. #Headwinds #tailwind #australianpropertymarkets #investinginproperty #HousingMarket #propertyinvestment #property #DemandAndSupply #economics #homeloan #mortgagestress #FiscalPolicy #interestrates #APRA #JobKeeper #JobSeeker #homeloandefferal #EconomicRecovery #realestate #realestateinvestor #housing #interestratesarelow #interestrates #forcedsale #realestateinvesting #realestateinvestingforbeginners #realestateinvestment #governmentgrants #rba

21.01.2022 Population growth is an important topic when discussing property and property investing. Below are some stats from the CommSec report - First quarterly drop in population since World War I Biggest annual contraction in births in 24 years. The population data provides insights on the job market, wages and prices, and ultimately on interest rates....Continue reading

11.01.2022 The economic costs of the pandemic have fallen most heavily on those least able to bear them. Governments have taken steps to support people and firms through wage subsidies, unemployment benefits, and other fiscal measures. But more investment in health care, education, and other basic public services will still be needed, and this will come at a cost. With mounting public debt, countries will have to find innovative approaches to raise the money to pay for it all. To this ...Continue reading

11.01.2022 The reference to Nimbin in Deloitte Access Economics Budget Monitor media release made me chuckle : "Australia’s recovery is red hot and three things stand out First, jobs have returned much faster than Treasury assumed. That’s even more central to the economic outlook than usual, because COVID’s economic pain has centred on jobs....Continue reading

06.01.2022 Thoughts from a successfully veteran #propertyinvestor on last night's #federalbudget budget #australianpropertymarkets #investinginproperty #housing #Budget2021 #FederalBudget2021 #propertyinvestment #propertyinvesting.com #stevemcknight #propertymillionare ... https://www.facebook.com/24802543174/posts/10158408717283175/?sfnsn=mo