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Peter Koulizos, writing at realestate.com.au predicts 2014 will be a better year for Australian property markets. He says the certainty provided by the federal election will be a factor in confident property markets next year, plus the pick-up in the US economy and a stronger Europe.
“Banks may loosen their purse strings as the Australian economy continues to improve… plus interest rates are at historical lows,” he said. Master Builders Australia weighed into the positive news to end 2013, saying they anticipate a sustained building industry recovery in 2014. Wilhelm Harnisch, CEO of Master Builders Australia, says the group remains confident that the fundamentals of low interest rates and population growth will underpin a broad industry recovery in 2014.
“This should in part be fuelled by the release of pent-up demand for new dwellings because of the under-building of recent years,” he said.