Melbourne and Sydney’s property market may recover faster than expected!
It’s predicted that within 12 months, prices will reach their peaks again. The recent low interest rates and simpler credit standards has given a boost in the recent growth in property prices. Although many economists predicted this growth, the growth is rebounding stronger and faster than expected.
The last property boom-time was seen in 2017, before prices began to drop. Although now, the same level hasn’t been reached, it won’t be long before boom-time settles in. This can be seen in the clearance rates for both Sydney and Melbourne, which stands at 70% for the last month.
Many are still doubt the growth in market, but the growth is no doubt currently present. The only question is when will it stop?
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