Cam Anderson, CEO and Director of Silverhall
After 2020, the question on everyone’s mind was how did the property market finish in 2020?
The answer: Australian property values finished 3.0% higher over 2020. Now keen property enthusiasts, homeowners and investors have already begun to make moves and the forecasts for 2021 mean they are on the right side of things.
“Housing values continued to rise through the first month of 2021 with CoreLogic’s national home value index up 0.9% over the month. The January movement takes Australian home values to a fresh record high. Housing values have surpassed pre-COVID levels by 1.0%, and the index is 0.7% higher than the previous September 2017 peak.” (Tim Lawless )
Corelogic's Quarterly Economic Review in December showed that the downturn was minor and Property prices are on the upswing, a trend that has continued in 2021. Head of research Eliza Owen surmises “There are numerous factors which have contributed to the prevention of a larger downturn in dwelling values including the institutional, coordinated response to the pandemic, which have seen low borrowing costs, added incentives for first home buyers and the extension of mortgage repayment deferrals limiting forced sales.”