The reason for the good housing market in Australia

The reason for the good housing market in Australia

• Posted By David Brown

The interest in regional properties had an impact on the housing market in 2020 and this trend will continue as people take advantage of the opportunity given to them to work from home and create a better lifestyle.                       

Records show that the interstate migration in Australia with 42,971 people moving last year into Queensland has been the main impact on the housing market increasing the prices of the properties. 

Because of the COVID-19 Pandemic, people are moving to the regions in Southeast Queensland making it more difficult to buy a house due to the lack of properties in these areas.   

In this same year, it took less time to sell properties in Queensland than in NSW or South Australia. 

House price growth in 2021     

Prices in the regions are most likely to remain elevated but this is a good thing for the Australian housing market in general.     

We are seeing that it’s more affordable to build a new home outside the cities as this helps to maintain stable prices countrywide and will bring more job opportunities as the economy recovers from COVID-19.