The residential property market is showing more resilience to the pandemic induced instabilities than initially predicted primarily due to a demand-supply imbalance.
The Ray White Realestate CEO recently commented that although there was an initial decline when COVID-19 hit, activity has increased due to the easing of restrictions.
Buyer inquiries have been rising steadily, primarily driven by first home buyers and young families looking to upsize whilst capitalising on record low rates and stimulus measures including the federal government’s $25,000 Home Builder grant and the state governments $20,000 Building Bonus.
This is a brief summary of the article ‘Getting a grip on a moving market’ by Katie McDonald | Business News | Thursday 18th June 2020.
