Many people will easily agree that the best place to invest is in real estate. However, the impact of COVID-19 is still being felt all over the world. The property market has not been left untouched either. The Melbourne property market has experienced fluctuations, but things are currently looking up since the beginning of 2021. Home prices have started to rise again, which is a welcoming sight from what was experienced from April to September last year. Economic experts have also predicted that they will be a rise in house prices in the next two years.
According to Real Estate Agents Windsor, the house market boom will see a significant rise of almost 10% in 2021. This is the best time to start engaging a real estate agent Windsor if you are looking into buying a property. There will be no drop in prices, but the current prices will continue to rise. The government has also played a major role in the property market’s rise by putting up low rates and favourable terms for first-time home buyers. In return, this shift being experienced in the property market plays a major role in the economy’s recovery.
However, the property market continues to experience the effects of the lockdown. The virus has been successfully contained, and necessary measures have been put all over to curb the spread. The number of empty homes is still high, and the rental prices have dropped down. This has made it affordable to rent out a place in Melbourne. If you have ever considered relocating to Melbourne, you will have various choices to choose from at great and low rates. A real estate agent Windsor will help you get the right unit at any location.
Melbourne has always been considered a sustainable place because of the infrastructure and economic prospects available. The city has been designed to offer its residents a good multicultural environment. It is popular with young professionals as it is easily affordable. This makes any Melbourne property worth investing in.
When you look closely at the current low mortgage rates, you will realize that many people who still have a sustainable income source are taking advantage of the low rates. They are opening up to the option of owning homes and taking up mortgages. Many people are reconsidering their values and prioritizing becoming homeowners after not being able to pay rent and having no alternative place as shelter.
The response to COVID-19 transmission has also been positive, and many people are ready to go back to the normal way of life. With the COVID-19 vaccine expected to be rolled out any time from now, people are getting the confidence to venture into rebuilding the economy. Many businesses have started reopening, which will cause a rise in house prices since a lot of relocation is expected. People will opt to be closer to their workplaces, and Melbourne is a business hub. The vacant houses will be fully occupied in no time.
The current property market rise is surprisingly not because of investors but by individuals looking for their own place. The government incentives in place are too good not to take advantage of. A real estate agent will guide you on all the available incentives that you can take advantage of to become a homeowner.
You also need to note that the numbers of homes for sale are few, and if you miss out now, you have to wait for the next completion of the next housing scheme. If we experience no new wave of the virus to warrant another lockdown, prices will continue to go up. Everyone is optimistic that we will finally be able to put COVID-19 behind us. The property market continues to experience different shifts worldwide and will play a significant role in the revival of most economies.
If your current investment plan is to save money and enjoy having a home in an upscale place, then getting a real estate agent in Windsor should be your next move. You will be able to make the most of the current incentives at favourable interest rates. This is the best time to invest in real estate.