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For Australians, it wasn’t too long ago that the housing market wasn’t too good. Prices weren’t doing too good and real estate owners weren’t too happy. Now, from out of nowhere, the housing market in Australia is rebounding. So is now a good time to enter housing market? Let’s take a look at some issues first.
Table of Contents
The decline
The Australian housing market was in a bad way a few years ago. Some sources say that around 2017 the prices slumped by about 22 percent. That’s pretty bad. Some say that this slump in prices was due to prices being overvalued, certain regulations passing, and loans becoming more strict. So how about now?
The rise
There’s been a recent surge in real estate activity that some experts say will last well into 2020 and beyond. What some experts think is that this is the result of a decent recovery. This makes sense considering the recent data showing that home values in areas like Melbourne are very close to showing positive returns.
The data continues to show that home values may rise by about 17 percent in areas like Melbourne and about 16 percent in places like Sydney. This is great considering these areas were hit pretty hard during the fall in real estate prices. So how do you get into the current home market, where can you get information?
Something like My Money House is a good source for getting information on financing a home so you can get into the current housing market. Here you can get info on home loans so you’re better prepared to enter the housing market.
Is it a good time?
With how things are looking yes. Think about it, the data shows that prices are set to rise, so if you already own a home this is good news for you already. If you’re not in the housing market and looking to invest or get your first home, even better. Not only would you be getting in on a recovering market but you would be securing a pretty good investment in general.
Markets that in a recovering status like these are good times to invest. There will be plenty of housing options, new money coming in, and just a general good vibe all around. This means that if you’re a real estate agent in Australia, then you’re going to be busy very soon.
Conclusion
Sometimes markets got through bad times, it happens. Now, these times don’t last very long and when recovery happens a boom can easily follow it. Australia went through some pretty challenging times with new regulations, nervous housing market investors, and change in general. Now things are looking up. The right thing to do now is to get information from a place like My Money House, get educated on what you need to do, and get involved in the housing market. Getting that dream home or real estate deal just got a lot easier.
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