Last Tuesday, the RBA decided to hold the cash rate at 0.75%. By doing this, the RBA is able to weigh up the potential economic setbacks influencing the broader market, including the bushfires and Coronavirus.
While some analysts are forecasting two rate drops in 2020 – we are seeing sentiment improving. This has been driven by dwelling approvals and growth in the availability of housing credit. ANZ are actually forecasting 8% price growth this year for QLD. We’re also witnessing strong tightening of the rental sector, which will further support construction activity.
So what else is in store for 2020? Here are some key market indicators that we’re tracking….
Source: Australian Bureau of Statistics
Bluebird Property Partners is a Brisbane-based development management and advisory company, specialising in the delivery of multi-residential and mixed-use projects.