Amongst the chaos experienced over the last year, one thing that continues to benefit is the nation’s property market. We’ve witnessed headlines detailing this growth close to every week within the last 12 months, with this month being no exception.
Australian residential property prices grew at their fastest annual rate since 2004 in the 2020/21 financial year. Eased lending conditions and easier access to money are just a few of the motivations seen in the eyes of property buyers across the country, as well as numerous government incentives like the First Home Loan Deposit Scheme and New Home Guarantee.
Other factors not to overlook are the record low unemployment rates seen in all corners of the country, as well as the accumulation of savings brought on by continued restrictions and week-long lockdowns and border closures in many capital cities. All these factors are contributing to elevated consumer confidence, fuelling strong demand for property despite the low levels of stock available for purchase.
Diving deeper into the local market house prices rose 11.5% on average across the Central Sunshine Coast. With buyer demand remaining strong and continued interstate interest in our lifestyle property market we see no evidence of the local market slowing.
If you are curious to find out what your property is worth in today’s very active market contact one of our professional agents or email me directly firstname.lastname@example.org