The new October 2020 edition of The Ryder Report has been framed at a particularly exciting time for real estate markets across Australia.
As I was writing this report, the data on property price performance during September was published.
The CoreLogic figures showed that six of the eight capital cities produced price growth in September and the SQM Research figures indicated that seven of the eight cities delivered some level of price growth.
And most of the regional market jurisdictions also had growth.
According to SQM Research, the national average performance in September was a strong 1.2% rise in house prices and a smaller rise for apartments.
This continues the resilient performance of real estate markets throughout the pandemic period.
In the past seven months since Covid-19 hit Australia, our cities and our regional markets have delivered growth in most of those months.
Some, like Canberra and Regional Tasmania, have had growth in every one of the past seven months.
Another key factor which I emphasise in this new edition of The Ryder Report is that vacancy rates are not only low, but ultra low, in most markets around the nation.
Vacancy rates below 1% are the norm now and this is putting upward pressure on rents.
Against that background, and with the Federal Budget providing massive stimulus to generate economic growth and jobs, I’m predicting a national property boom in Australia in the near future.
We already have rising momentum in most markets across the nation. The early indications are that, as the restrictions are eased, Melbourne is going to come charging out of lockdown with renewed enthusiasm for real estate.
One of the biggest generators of the real estate boom will be the massive spending on infrastructure.
It’s clear that federal and state governments are planning an infrastructure-led economic recovery – we saw the first tangible evidence of that in the Federal Budget.
And nothing energises property markets like big spending on big infrastructure.
If you want to learn more about all this, get yourself a copy of the new October edition of The Ryder Report.
It all in there. Don’t miss it.