The recovery of the Australian property market will not be far away! Experts predict that the Australian property market will emerge from the downturn before the end of 2021! Predicting the outlook for the Australian housing market in 2021: housing market recovery, rents rising, housing prices soaring, but not enough housing. According to a quarterly survey, the weakness of the Melbourne housing market is expected to cause national housing prices to fall at least 5% next year. When the federal government revokes JobKeeper, including JobKeeper The real test will come when the main income supports the project. CoreLogic data show that in August, Australian house prices fell for the fourth consecutive month, Melbourne fell 1.2%, and national house prices fell 1.7% in three months. Bob Cunneen, senior economist at MLC Asset Management, said the real estate market is in a transitional zone, as employee payments and loan delays inhibit low-price sales. He expects Australian house prices to fall by 7%. As these income and loan support measures gradually decrease, housing prices will continue to swing. This price drop can be seen as an adjustment and will only reverse the short-term increase in 2019.

There will be more serious mortgage sell-offs in some areas, and the shadow of negative equity will put heavy pressure on households. Considering the high household debt and low population growth in Australia, housing prices will face difficulties in the next few years.
Justin Fabo, a senior economist at Macquarie, predicts that national house prices will fall by as much as 5%. However, he said the rate of decline in Sydney housing prices may be slowing, and housing prices in several capital cities and regions are beginning to rise.

In August, housing prices in Hobart, Darwin and Canberra all increased. Housing prices in NSW have also risen. The real test of economic resilience will be next year, when part of the financial support will be reduced and bank support will also be reduced.
We believe that with the economic improvement, but most importantly, the support of extremely low interest rates, residential prices are likely to experience very moderate growth next year. The Reserve Bank of Australia's move to reduce interest rates to a record low of 0.25% has caused housing loan interest rates to fall.

The Commonwealth Bank and ING Australia lowered their standard variable interest rates for owner-occupiers last week. With economic growth and job opportunities recovering in 2021, cheap interest rates are expected to help revive people's interest in the real estate market.

QIC Chief Economist Matthew Peter said: "With the removal of supportive measures, low interest rates, a reviving economy, and pent-up demand from home buyers will cushion the decline in house prices and keep house prices down. In the moderate range of 5% to 10%." Dr. Peter estimates that given the relatively strong supply and the slow recovery of international students and permanent immigrants, the prices of high-density apartments (especially in Sydney and Melbourne) may still fall by more than 10% . Tim Toohey, head of macro and strategy at Yarra Capital, said he is quite optimistic about the real estate market.

Given that policy makers have guaranteed that interest rates will remain low in the next few years, by the end of next year, Australia's economy may achieve 5% to 10% growth. He said: "We believe that the increase in purchasing power will far offset the decline in the number of immigrants, at least in the near term." Westpac chief economist Bill Evans recently predicted that Between 2022 and 2023, house prices may rise by 15%.

The Reserve Bank of Australia cuts the cash rate to 0.1%
Hit a record low

The Brisbane Times reported that the Reserve Bank of Australia announced after its meeting on November 3 that it would lower the Australian official interest rate from 0.25% to 0.1%, a record low. According to reports, the RBA's move was to reduce the unemployment rate and let the Australian economy out of the haze of the epidemic.
RBA President Philip Lowe said: "At this meeting, the RBA Board of Directors decided to take further measures to promote employment and free Australia from the economic recession caused by the epidemic. Recent economic data are better than previously expected, and Australia’s economic outlook Better than 3 months ago."


Finder's Graham Cooke said this is the first time since 2011 that the Reserve Bank of Australia announced a rate cut on the Melbourne Cup match day. “Factors such as the strength of the Australian dollar and the dilemma of the Victorian economy have become reasons to support the Reserve Bank of Australia to further relax its monetary policy.” After the Reserve Bank of Australia announced a rate cut, Australian stocks rose 2%.

What does record low interest rates mean to ordinary Australians?
Usually, when the Reserve Bank of Australia announces an interest rate cut, Australia's major lending institutions will follow suit. The lower the loan interest rate of a financial institution, the less money you have to repay. So what does today's interest rate cut mean for you? The Nine News Australia reported that for many borrowers, the difference between the two may be just a few more Australian dollars in their pockets each month.

Canstar’s Steve Mickenbecker said: “Because existing housing and commercial borrowers are unlikely to see significant interest rate cuts, even if interest rates are cut substantially, the former are unlikely to increase spending, so the effect of interest rate cuts on the economy will be very small.”
"The mortgage interest rate is already very low, and the interest rate cut is largely irrelevant. Even if the interest rate is cut in full, the monthly loan repayment amount will only be reduced by 33 Australian dollars, which is not enough to have much impact on the borrower's expenditure and purchase intention. "


Trump vs. Biden, the two mansions are like this!
Recently, the overall situation of the US general election has been decided. The editor will take everyone today to take a look at the difference between Trump and Biden’s luxury homes.
As a rich businessman, Trump has tried many different industries and fields. With a solid family, he has many mansions.

It is understood that there are more than 14,000 apartments under his name, and he is a well-deserved rich second generation.

On the Trump Tower in Manhattan, the 66-story building is all owned by Trump.
You can see from the outside that it is really luxurious.

Let's take a look at the interior decoration of the penthouse in this building.

Looking at this magnificent tone, isn't it really a palace?

Exquisite European-style decoration, from accessories to layout are very exquisite and reasonable.

Moreover, it is understood that there are also dedicated doormen, gym and house cleaning services.

Speaking of this, his holiday manor has to be mentioned. His holiday mansion in Florida can be said to be a real castle.
It occupies an area larger than the White House and is equipped with all kinds of facilities. Only you can't think of it, but Trump can't do it.

What kind of sports grounds, swimming pools, SPAs, etc., there are everything.
It is even more exaggerated to have 58 bedrooms and 33 bathrooms.

In 1995, Trump transformed it into a club and opened to the outside world.

At the same time, Biden and Trump live completely different lives.
At first glance, Biden's house is much more grounded.

It seems that although it cannot be compared with the previous luxury, it is also very warm and comfortable.
However, Biden's house is also one of the most famous wealthy areas in the United States.
His residence also occupies nearly 10,000 square feet, as well as a parking lot and a gym.

However, we can also find from his house that he is still very successful.
The decoration style is also very simple and comfortable. Which of these two people’s houses do you pick more?


Source: 7 NEWS, Sohu News, Australian Real Estate Network, Australian Red Collar and other online media
Latest apartment off-plan list