Property market headlines around Australia right now are full of doom and gloom. They are usually based on a worst-case scenario, which includes a long and drawn out economic downturn on the back of the COVID-19 pandemic, but is this what we now expect?
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Australian Property Investor Magazine
In the time between this article being conceived and written, pretty much everyone has already lost interest. And interest rate markets are pricing in a more than 50 per cent chance that they will have lost even more interest soon after publication.
ANZ is facing criticism for increasing its two-year fixed interest rates by 10 basis points, with a blowout in processing times resulting in many applicants not receiving the bank’s market-leading rate as advertised in late March.
Some harsh lessons have been dealt to the student accommodation sector, with international border closures delivering a sharp fall in occupancy rates.
ASX-listed developer Peet has launched a new online toolkit to educate first homebuyers, with coronavirus-related lockdowns creating strong opportunities for the company to digitally connect with potential customers.
Home values have historically bounced back strongly following recessions, with new analysis from the Property Investment Professionals of Australia likely to provide significant comfort for investors.