The property market was resilient overall in 2020 with house and unit prices rising, but rental markets suffered while investor demand was low and new development slowed dramatically.
“Canberra had one of its best years on record and looks set to continue on the same trajectory in 2021,” Ms Conisbee said. The Sydney market is picking up while Melbourne is still feeling the sluggish effects of the lockdown. Meanwhile, Brisbane is experiencing “strong conditions” as is the Gold Coast and Sunshine Coast, but Ms Conisbee added that greater certainty on interstate borders will help population growth and housing demand.
Rental markets are likely to improve but remain weak in inner-city and student-populated areas, including in Victoria which accounts for almost 85 per cent of the increase in vacant units since the start of the pandemic.
This time they can't blame it on the foreigners for pushing up real estate. Looks like blaming everything on foreigners in the past was fabrication after all. Then again most real estate news is fake because too much vested interest by everybody involved.