The year 2020 has become one of the most difficult years in Australia. From fires to floods to the Coronavirus, the year has finally passed and 2021 is here. The government was quick to act in response to the country’s challenges last year. However, the aftermaths include the massive stimulus policies and rapid reductions in interest rates. In this article, we’re going to discuss just how all these affect the property market this year.
Brisbane Property Market Forecasts CBA expects Brisbane property prices to increase by 16.6% to 2022 compared to 13.7% in Sydney and 12.4% in Melbourne.
ANZ economists predict Brisbane house prices will rise by 9.5% next year, as government stimulus and low interest rates flow through the economy.
NAB predicted a rise of 14% across all capital cities this year, but NAB chief economist Alan Oster said they upgraded this to 16% rise in Brisbane.
Westpac has also updated its market forecasts as it expects Brisbane prices to surge up to 20% between 2022 and 2023.
In the 2021 budget, landmark investments in aged care were recently announced, with the government pledging an additional$17.7 billion invested in Aged Care. The funding includes $10 per resident per day for providers to help them provide better care.
2020 has been a year of continual change for businesses and, in response, the Federal and state governments – to varying degrees – have introduced temporary measures to allow the electronic signing and witnessing of documents.
As we head into 2021, we are pleased to see that the various governments have allowed these measures to continue into 2021, with the Federal government considering extending the ability for companies to electronically execute their documents permanently.