PHOTO: Adelaide residents Jodie and Jesse White have had success house flipping in the current market. Picture: Tricia Watkinson Source: News Corp Australia
Some pundits have predicted the end of JobKeeper support payments could bring about a real estate market collapse. Sound familiar?
The end of COVID support packages JobKeeper and JobSeeker is unlikely to have a significant impact upon the real estate market, despite initial fears.
The pandemic was forecast to have a seismic impact upon our property market with prices predicted in some quarters to sink by 30 per cent.
In contrast, dwelling prices have grown nationally by four per cent over the last year on the back of a 9.4 per cent rise in regional areas, and 2.7 per cent in the combined capitals, according to property data analysts CoreLogic.
That price growth is expected to continue through to the end of March, when the pandemic welfare packages conclude, and beyond unabated.
“The economy is in far better shape than any original forecast at the height of COVID last year, notwithstanding such areas as tourism, combined with many industries having a complete lack of applicants for strong employment positions,” Ray Ellis, CEO of First National, Australia’s third largest real estate agency, told News Corp.
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