There has been much written about the “New Normal” of a post pandemic urban environment ranging from utopian dreams through to rather dark and prolonged periods of continued isolation and recurring sickness. I won’t wade too far into it in this article greatly but reserve the right to state that it is great we are all looking for the light at the end of the tunnel.
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What do closed borders mean for Australia and each of our States? So far the conversation has largely flowed around tourism and international education, but what does it mean for property?
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This is a somewhat sobering article about the depth of this crisis and what it means for the various economies throughout the world. Whilst it highlights the challenges that 2020 will deliver, it does provide a more optimistic outlook for 2021. One of the figures that should provide some comfort is that China, Australia's largest trade partner never falls into negative territory.
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So, what does 2020 hold for the property market? Well for one thing, I guarantee it won’t be a repeat of 2019, which had more speed bumps, false starts and outside interference than any free market asset class should have to face.
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So, there are various parties that are lamenting the fact that Brisbane City Council has stopped the development of townhouses in areas zoned low density residential. Arguments around world’s best practice, affordability and product diversity are all valid to some extent, though there is a whole lot of grey that goes with it. Very little in planning and economics is black and white.
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Whilst all the talk has been around price and whether the bottom of the market has been reached or otherwise, it really is a moot point. The only thing price really does is impact someone’s on paper wealth and depending on where that price point actually sits compared to the point in time they bought the property; it becomes either the issue of the individual or the financier (sometimes both).
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