News & Updates Housing Market Confidence Up as Restrictions Ease

16/10/2020by simplyframe

As Australians are dragged through a pandemic-induced recession in Australia, the housing market and sentiment has roared back into a strong rebound off the back of the recently announced federal budget.

The sentiment index was up nearly 1/3 compared to pre-budget announcement levels. In addition, signs are pointing to the reserve bank cutting the rates yet again in November; bringing the official cash rate down to zero or as close to zero as we have ever been. As we continue our journey through the uncharted territory of a global pandemic, lockdowns, low cash rates, recession and rising unemployment, it is increasingly difficult to forecast what will happen to the property market in the short-medium term.

The budget gave us a glimpse of what the projected deficits will look like in the next few years, and those numbers are both scary and unfathomable. In America, money is being printed at a rate that is hard to comprehend. As sentiment rises in the housing market, property investment is one of the many ways of safe-guarding against inflation in the long-term.

As lockdown restrictions ease in Victoria, there will be a long queue of jobs that will flood into the market. If you are planning a renovation for your residence or investment property in the near future, it is a good idea to get in early to prevent long waiting times on jobs.

If Simply Frameless can assist with your frameless glass or mirror requirements in your next renovation in the bathroom, kitchen or bedroom, please do not hesitate to reach out.