According to a report on the Domain website, Australian house prices and owner-occupier loans have reached record highs. Industry insiders predict that Australia’s “fierce” real estate market will soar by 10% this year.
The latest data released by the Australian Bureau of Statistics on February 2 shows that Australians are eager to buy houses without fear of the epidemic, rising unemployment and economic uncertainty.In January this year, Australia’s homeownership loans rose by a record 1% to A$8.7 billion.For the entire year last year, homeownership loans soared by 199%.
National Bank (NAB) chief economist Alan Oster told Domain that he expects house prices in most capital cities to rise by 10% this year, with Sydney and Melbourne rising between 7% and 7.5%.
At the same time, the latest house price index released by CoreLogic coincides with the increase in loans.Australian house prices rose to a record high in January, rising 0.9%.
Gareth Aird, head of the Australian Department of Economic Affairs at the Commonwealth Bank, predicts that house prices will rise by 2021% in 9 and apartment prices will rise by 5%.He said that a lot of evidence shows that the real estate market is strong, and hinted that house prices will continue to rise in 2021.
Compared with the forecast of the Federal Bank in the early days of the COVID-19 epidemic, this is a surprising shift, when the bank believed that property prices might fall by 10% to 30%.
Buyer's agent Cate Bakos said that the Australian real estate market has become "fierce", with fewer and fewer homes for sale, and house prices rising by thousands of dollars a week.
She believes that even if there is more inventory in the market, buyers' demand is sufficient to maintain the current momentum. "I have never seen this before." "Demand for real estate has broken through the roof," she said.
JobKeeper, JobSeeker and mortgage repayment holidays will end next month, but Alan Oster believes that these will not stop the real estate market from rising further. "It may slow down the rate of house price increases, but JobKeeper's impact is less than people think."
Amanda Seneviratne, head of finance and wealth at the Australian Bureau of Statistics, said that low interest rates and the government's HomeBuilder plan had a "huge impact" on the surge in new loans, as 32% of new loans were used for new home construction.
Ms. Seneviratne said: “The value of construction loans increased by 12% in December. Since the implementation of the HomeBuilder subsidy in June, construction loans have more than tripled."
Among the different regional markets, the area with the largest increase in the value of house prices is the township center.In order to escape the strict blockade, urban residents moved to the pleasant countryside.Data show that since March last year, the value of houses in the township area has risen by 3%.
Lawless说：“迁徙数据显示，越来越多的人离开悉尼和墨尔本都市区前往乡村地区。” “海外移民停滞加剧了这种趋势， 从历史上看，墨尔本和悉尼接待了绝大多数的海外移民，因此当海外移民停滞，这两大城市的CBD房产需求受到最大冲击。”
"Chinatown" Fb shares selected Australian news daily, so that you can know the latest Australian news at anytime and anywhere @玩, @Immigration, @生活信息: https://www.fb.com/news.china.com.au/
[Welcome to the news to discuss cooperation! 】WeChat subscription account: news-china-com-au