Market Essentials - February 2022
Welcome to the first Market Essentials report for 2022. Nothing much seems to have changed since we farewelled 2021. The pandemic continues to impact the economy. Prices of real estate Australia wide continue to surge, and prospective buyers are still scrambling to get a piece of the real estate dream here in Australia.
Speculation is mounting that the RBA will raise interest rates ahead of schedule, banks have tightened lending criteria, affordability constraints exist for many, and a Federal election is on the horizon. In addition, an increase in new housing supply and speculation that property listings will increase at some point in 2022 has economists pointing to a significant cooling of the redhot housing market this year.