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Property markets in Adelaide and Perth are moving into overdrive, with competition among buyers getting fierce as homes sell swiftly and rental vacancies plunge.
More than 800,000 Australian mortgagors have arranged payment deferrals with their lenders since March, and with repayment holidays and government stimulus payments being wound back, some households may face a mortgage crisis if their income levels have not rebounded.
Western Australia has extended its Building Boost for new home builds, at the same time that new research has been released saying that more targeted stimulus is needed if the housing construction sector is to lead Australia’s post-COVID recovery.
Cinema rooms are being replaced by home offices, while relaxation zones are superseding the guest room, with the coronavirus pandemic prompting a seismic shift in what homeowners and renters want from residence.
From Western Australia’s South West to northern Tasmania and coastal towns dotting the east coast, an urban exodus has fuelled a COVID-induced property boom in regional Australia.
As a young man in India, Mahesh Yadav was already drawn to the idea of using property to achieve financial independence. But encouraged to pursue a more “respectable career”, he went on to become a
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