More New Faces 👫 + Property Price Predictions 🏡 - August 2020
Hey all you Black & White Finance followers! It’s been truly humbling to have had a busy past 2 months and we’ve definitely had our hands full. So much so that we’ve hired 2 amazing new team members. This month, we’ll introduce you to these quality newbies we’re blessed to have on board & cover property price predictions for the near future. Enjoy!
John is our newest customer support coordinator we welcome aboard and comes from humble beginnings. When he’s not working out the cheapest rates for our clients or enjoying a game of football you can find him flying the friendly skies with Qantas airlines as captain! But don’t let that fool you, his standards and quality of work are as high as his cruising altitude 😎
Shelley is also taking center stage as our customer support manager and has worked in the finance industry for over 13 years. Her knowledge and scope of field are second to none and she enjoys taking her dog Alice for walks on the beach and swimming laps at the local pool on her days off. Her work ethic is as good as her backstroke so when she looks after you, you’ll definitely be in good hands!
Property price predictions – Trends to look out for!
The Australian Bureau of Statistics (ABS) revealed earlier this month that new home loan commitments were up 6.2% following the easing of COVID 19 Auction restrictions since May.
Now, you may be thinking that this is only due to the economic impact COVID has taken on all of us, however, new lending commitments are up 4.5% for June in comparison to the same month during 2019. It seems us Aussies are nothing if not resilient and hungry for more property!
Of course, there are a number of contributing factors to this including the various government grants & concessions as well as record-low interest rates. We can see that the Australian public still feels comfortable to continue to dabble in the property market for now, but what about in the
coming months?
Well, as the saying goes; nothing lasts forever. Leading economists are predicting a fall of 10% in
property prices for the second half of 2021 and a further 14% for construction due to COVID related factors.
Falling population growth within Australia is also a major contributor that economists have considered as well as the international travel ban which limits potential investors from purchasing more easily within our shores.
Our take – Plenty of our clients are continuing with their property ventures and judging from the
July/August figures from the ABS, non-clients also feel the same. While it’s impossible to say for
certain what the future will hold, the data shows a likely decrease in property prices within the next year and it may be worth your while to get your finances in order so that you are amply prepared to take advantage of this.
With our ears to the ground, we will continue to monitor the trends and revisit this at a later date.
Final Thoughts
The people have proved time and time again that the great Australian dream to own property of your own is truly alive and well. Throughout the difficulties we’ve faced these past few months, data shows that we remain resilient and steadfast in the face of uncertainty.
If the median housing prices do drop like economists are predicting, it would be an even greater boon not only for Sydney-siders but also for Australians as a whole.
One thing you can count on is that all of us at the team here with Black & White Finance are ready to help you achieve your financial goals, whatever they may entail. With each new member of our growing team we specially cater to your specific needs to offer a service you won’t get anywhere
else.
If anything above had you thinking about what this could look like for you, feel free to reach out to us.
See you in next month’s blog!
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