Page 2 - Mario Sultana Market Report

Similar to 2020, 2021 has been
filled with its own uncertainty and
challenges as QLD continues to
navigate and come to terms with
our new normal. The COVID-19
pandemic has significantly
impacted all of us in one way
or another, however, it has also
created the perfect storm for
positive growth drivers which will
most likely see Brisbane real estate
prices continue to perform strongly
for the remainder of 2021 and in to
2022.

The biggest game-changer has
been how quickly our economy has
recovered. We have experienced a
V shape recovery where 90% of the
jobs that disappeared have now
been reinstated and 97% of mortgages that were put on hold last year have now
been reinstalled. This has led to significant increases in both consumer and business
confidence.

At Place Newmarket, we have seen a 46.37% increase in buyers through our open
homes. Whilst this significant increase can be attributed to many factors the
emergent theme is that valuing where you live, remains more relevant than ever.

In February, realestate.com.au published an article on the 10 most searched
keywords for houses and their year-on-year growth. “Study” came up on top with a
52% increase from 2020. This data with other predicted trends show that the longer
the pandemic requires people to work remotely, the more companies are expanding
their remote work policies, with employees wanting to continue more flexible work
arrangements.

The ANZ Bank forecasts Brisbane house prices to rise up to 16% in 2021 and a further
8% in 2022 - four times that of the pre COVID-19 growth rates. It is evident that
anyone who buys an A grade home or investment-grade property in Brisbane now
will look back in a few years’ time and recognise they bought well. Here’s hoping this
new property cycle still has some time to run – but remember all good things will
eventually cool to normality.

Kind regards,
Mario Sultana

Principal Place Newmarket
M: 0428 282 223
E: mariosultana@placerealestate.com.au