“The rising tide has lifted all ships in 2021,” commented Ben Kingsley, chairman of the Property Investors Council of Australia (PICA).
“What was interesting, as it’s unusual to see this happening across Australia at the same time, was that growth rates in many large regional centers have matched or exceeded some of the capital’s markets, thanks to regional COVD-19 demand which remains very strong throughout 2021.
While the grand regionalization is expected to remain a popular lifestyle change throughout the coming year, Mr Kingsley believed that if the Australian market recovery stays on track, we will see a return to low levels. different growth rates according to markets and property categories.
“Generally speaking, levels of growth of this nature from year to year are very rare and difficult to sustain across Australia, so I think we are going to move away from a unified growth story, where all markets go off, and come back to markets in the history of markets, some markets representing better value than others, ”he said.
And while 2021 was seen as a great year to sell properties with loads that could have previously struggled to find buyersMr Kingsley said the capital markets, in particular, could again be somewhat divided in terms of the percentage return expected on properties of different state and caliber.
“With the increase in the sales offering in our major centers in Sydney and Melbourne, the story may be more about Class A, B and C properties and buyers’ interest in these assets,” noted Mr. Kingsley.
“Usually, in a reversing or slowing market, Class A assets sell well, but the seller’s selling price expectations for Class B and C assets may need to be adjusted. “
Property refers to a tangible or intangible item over which an individual or business has legal rights or ownership, such as houses, cars, stocks, or bond certificates.