The Government has just announced that it will be extending Jobkeeper payments. So what does this mean for the property industry? At the moment it's both a buyers and a seller's market, which is something that we haven't seen for a very long time now. This means that there isn't much on the market to choose from, which is great for sellers, as it provides competition for their home and drives prices up, but prices are still low from when they dropped slightly in previous months, which suits buyers well if they don't get into a bidding war with multiple offers on a property.
The continuation of Jobkeeper payments means that people still have money coming in if they're on reduced hours, and buyers are still in the position to make offers on low priced properties, and sellers can keep making repayments on their mortgages while they're waiting for the right buyer to come along.
We are still waiting to see if the market will go up or down next, however at this stage it's holding steady.
If you would like more information about the JobKeeper Payments to see if you're eligible for the continued payments, please visit the ATO's website.
If you would like to discuss the state of the housing market and trends that we're seeing at the moment, please give me a call on 0414 520 853 with any questions that you may have.
Kelly Pack is a Real Estate Agent in Tarragindi who gives her time to the community and helps people sell, buy and lease their homes.