When we reflect on the year now gone, one of the biggest questions many economists and property analysts have asked, and addressed – is why didn’t the Australian property market crash in response to the global pandemic?
When the COVID19 outbreak began, the headlines were filled with doom and gloom as we headed to our first recession in over 28 years…yet somehow the property market has pulled through remarkably well, and … Read the full post »
On Sunday November 29, the Federal Government announced the extension of the HomeBuilder program from January 1, 2021 to March 31, 2021.
HomeBuilder provides eligible owner-occupiers (including first home buyers) with a grant to build a new home or substantially renovate an existing home. HomeBuilder assists the residential construction sector by encouraging the commencement of new home builds and renovations.
Changes to the HomeBuilder program include:
A $15,000 grant for building contracts … Read the full post »
The Queensland state government has announced that it will stick with the original deadline of the eviction moratorium for residential tenants. Under the announcement, the moratorium, which is applied to residential tenants suffering an income loss of at least 25% amid the COVID-19 pandemic, will be lifted by the end of the month.
Housing Minister Mick de Brenni said Queensland’s economy is faring better than other states, making it ideal to … Read the full post »
Firstly, we hope that all the mothers out there had a wonderful mother’s day and got the opportunity to spend time with your family, if possible; or at the very least have some contact via social media interactive platforms like Zoom or facetime, or a telephone call. It is very important that we all stay connected with our loved ones, despite the challenging environment we are currently living in.
From last … Read the full post »
Firstly, we hope you all enjoyed a great long weekend and an ease in restrictions – it was wonderful to see people out and about enjoying the sunshine and fresh air, whilst practising social distancing. Keep up the good work, and we may all come out of this on the other side, sooner rather than later.
In the midst of this COVID-19 crisis, some property commentators and key industry figures across … Read the full post »
Good news – the Queensland State Government is easing some COVID19 restrictions, allowing greater freedom of movement from Saturday May 2. This is welcome news for Queensland residents, with national parks now being open to the public, and people once again allowed to picnic – we can get out there in the sunshine and soak up this glorious autumnal weather…keeping social distancing requirements in mind.
From Saturday we can now:
Go … Read the full post »
Since the government shutdown non-essential services and have placed a temporary ban on auctions and open for inspections, and essentially halted the economy in response to COVID-19; as expected, the property market has been impacted.
From a values perspective, the CoreLogic hedonic index has been showing a loss of momentum in housing value growth rates since mid-March. Data through to mid-April has seen a continuation in this trend, with the combined … Read the full post »
This week, we summarise what is currently on offer for people financially impacted by Coronavirus.
At the start of April, stimulus packages totalled approximately $331.6 billion, or 16.6% of GDP.
Monetary Policy:
Over March, The Reserve Bank of Australia reduced the cash rate, and launched unconventional monetary policy. The RBA have reduced the cash rate to the effective lower bound of 0.25%. The RBA signalled there would be no further reductions to the cash rate, … Read the full post »
In the wake of the COVID-19 pandemic, the Real Estate Institute of Queensland (REIQ) is seeking urgent action from the Queensland State Government to assist in maintaining the stability of the Queensland Property Market – worth in excess of over $1 trillion, and directly employing over 50,000 workers, with many more employed in associated industries. Activity in the real estate sector contributes in excess of $30 billion annually to the … Read the full post »
Amid the spread of coronavirus, the past few weeks have seen increased expectations of an Australian recession, a slowdown in business activity and trillions of dollars wiped off global share markets. It has many asking what the impact of the coronavirus would be on Australian residential property.
Australia’s leading real estate researcher and analyst CoreLogic explores fundamentals of housing to better understand outcomes in the current climate. It has found:
Housing … Read the full post »
We all know time goes quickly…hey, it’s March already, and we’ve only just got used to writing ’20 instead of ’19! The Real Estate Institute of Queensland (REIQ) are reminding people about the changes to Queensland’s smoke alarm registration that come into effect on 1 January 2022.
ALL domestic dwellings leased or sold have to be fitted with interconnected photoelectric smoke alarms; and at this stage there are no plans to … Read the full post »
Here at Wright Property we have had a busy start to 2020, particularly dealing with high volumes of buyer enquiry. We are urgently seeking listings to meet demand and can confidently advise that right now is absolutely a SELLERS MARKET in Mount Coolum and immediate surrounds.
One of the reasons for this surge in enquiry could be attributed to the latest figures released by the ABS showing a strong uplift in … Read the full post »