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2020 is here and we have all made some resolutions for this year, if investing in real estate is one for you then the property advisor in Melbourne is here to tell what you should expect in Australia’s 2020 property market? According to the leading economists, there has been a significant change in the property market as compared to a few years ago. There are definite opportunities in today’s market but you can only take advantage of it if you know what you are looking for.
What’s Ahead in the Property Market?
In 2020-21, it is expected that the house prices will grow across all Australian cities. The fusion of easing lending serviceability buffers, lower interest rates, and increase economic growth is all set to make the 2020 property market popular among investors and buyers.
While 2020 will bring many opportunities for home buyers, but the market is in the hardest lending environment of the last 20 years. It requires a specific mindset to invest in today’s property market, rather than going for a minimalist mindset, your thinking should be in terms of a growth market mindset with control on your finances will provide a stable platform for a successful investment and financial life.
Despite the market was inconsistent in the past, Australia’s property market has shown remarkable potential at the start of the year, with prices comparatively stronger than expected. The market is also seeing a rise in building infrastructure which eventually drives the marketplace and brings more investor demand.
Property Price Forecast
According to the research, the overall capital city property prices will increase by around 5-7% in 2020, with 10% growth can be seen in the areas of Melbourne and Sydney where properties could easily grow.
In 2020, Melbourne and Sydney will likely be the top-performing property markets. 5-10% price gains are expected in the three major eastern capitals, while prices will steady in Perth.
Due to the ease of credit restrictions and the interest rate cuts, most of Australia’s capital cities will benefit from it. On-going population growth will be another key factor behind the price of property markets’ supply and demand.
The current property market is enabling the first home buyers and home buyers to climb the property ladder by choosing solutions like kit home investments, with established homeowners advancing in the booming market.
2020 will be a good year if you are planning to invest in property, you can also get expert advice from the professionals at 10 Properties in 10 Years who will guide you through your journey and will help you to build a strong property portfolio. To get in touch with the leading property investment strategists in Melbourne, give us a call at 1300 617 677 or send us an e-mail at [email protected].