For most people, the property market has felt quite precarious in 2021. Due to multiple factors such as the decline of sale prices in 2020 and the effects of the COVID pandemic, many people remain convinced that 2021 won’t be a good year for the real estate market in Australia. However, the facts reflect the exact opposite.
If you’re wondering whether it would be a good idea to enter the real estate market this year, we’ve got the answer for you. In this blog, we are going to provide you with a property market outlook for 2021. This will give you all the facts outlining the state of the real estate market this year, which will show you whether now it is a good time to consider selling your house.
For more information about the state of the real estate market in Aussie, you should contact our company. At Property Point, we specialise in property valuations and real estate transactions. As such, we have extensive knowledge of the state of affairs, as well as the most likely future predictions, for the real estate market in Sydney and throughout the rest of the country.
Reach out to us today, and we’ll provide you with a full breakdown of the property market in 2021, which will be vital information to arm yourself with if you intend to sell your house this year.
State of the Market in 2021
Contrary to popular expectation, the property market in 2021 has actually seen quite significant growth thus far. In the early months of this year (from January to March), property values saw a 6.8% growth pace. As such, these price raises have been so significant that they’ve met and nearly beaten records set 32 years ago. If the property market continues in this trajectory, it will be sure to mean great profits for most home sellers who decide to list this year.
Why is the Property Market Showing Such Promise
For those that have sellers’ intentions in 2021, they may be wondering why it is that the property market has taken such a surge. With nearly everything indicating disaster last year ( e.g. the 40% decline in the number of properties sold that took place over April), asking why the ship has made such a monumental turn is a fair question.
Well, the answer to this question may shock you. Amongst many other things, the surge in the property market has been due to the COVID pandemic (or more specifically, Australia’s excellent response to the pandemic). Businesses are now reopening, which has boosted the economy and in turn, boosted the housing market. In addition, many buyers who were trapped at home during 2020 lockdowns are now re-entering the market. All of this has positively impacted the housing market in 2021 throughout Australia.
More Questions? Contact our company today and we’d be happy to help you learn more about the housing market, as well as determine when the best time to sell your house would be.