November 2021 Market Update

November 2021 Market Update

Housing is expensive now, but  Economists see rent and house prices rise  in 2023

When Australia opens its borders to migrants, the already skyrocketing house prices could rise further. While immigration is not the only factor influencing house prices, it adds to the already strong demand for housing.  Economists say about one extra home is required for every three migrants.

This will depend on how high the annual immigration intake is, as well as other variables such as interest rates and the possibility of further restrictions on borrowing.

The surging Australian house prices may only face ‘modest’ impact from tighter home loan rules. The Stricter standards on households’ ability to pay back loans may do little to stop the booming market,  as many people don’t borrow at their full capacity.

And Bank’s can withstand a decrease in house prices as along as  borrowers stayed in work and were able to service their loans.

Summer time is a great time to Sell. Borrower’s have time to look and are motivated.