Design and Ideas Market Recovers Momentarily as Victoria Enjoys Donut Days

15/11/2020by simplyframe

Victoria has been experiencing consecutive donut days for the last 2 weeks, as restriction easing continues on target for a COVID-normal Christmas by year end. New found freedom in Victoria coupled with recent RBA rate cut sees a big boost in the property market, construction industry and renovation activity.

Increasing amount of Australians think that now is the prime time to buy or invest in a new home than any other point since late 2013. With the official cash rate now at historical low of 0.10%, renewed enthusiasm has come back into the property market as restrictions have overall eased throughout the country and borders start to open up. But question-marks linger around the uncertainty of when the home loan deferrals come to an end in March 2021, combined with strained Australia-China relations and international borders being shut.

As Australia heads into a COVID-normal summer, it is the ideal time to action long-term plans as we enjoy the new-found stability for at least the next 4 months. Selling, buying, and renovating are all activities that have been ramping up in the last month, as Victoria heads into a revitalised market after a prolonged time in lockdown and hibernation. Tradies and builders are all experiencing unprecedented demand as a combination of backlog and renewed enthusiasm has seen many booked out until well into 2021.

March 2021 may paint a bleak picture of what may come in the later half of 2021, so make the most of the positive sentiment in the market now and execute on those back-burner tasks that have been dormant through the duration of the lockdown. Renovate to improve liveability or to go on the market and achieve an exceptional outcome before this window of opportunity passes.