The Reserve Bank says Australia has already started to exit its recession and the lockdowns in Victoria haven’t affected the national economy as much as first feared.
Investors are swooping in on the COVID-hit inner-city apartment market as Melbourne begins its slow exit out of restrictions.
Rents in inner-city Melbourne are struggling under the COVID lockdown but they are performing better in the outer suburbs.
The COVID-19 pandemic and associated lockdowns have seen home owners sink more payments into their loans.
The Federal Budget has given a boost to an extra 10,000 first-home buyers trying to crack into the property market
Non-bank lenders are in line to grow their share of the commercial real estate debt market.
The nation as a whole recorded a 0.1 per cent drop in the CoreLogic home price index thanks to a 0.9 per cent drop in Melbourne and a 0.3 per cent drop in Sydney.
The success of the build-to-rent sector is set to continue with predictions that 10,000 apartments could be developed each year by 2023.
The RBA is keen to see more stimulus moves from all governments to get the economy going again as it this week left the door open to more interest rate cuts.
Rents in Melbourne and Sydney will keep falling in the near term according the Reserve Bank of Australia.
