Rate cut vs corona virus on House prices

This week RBA cut interest rate by another 25 basis points. This is to counter the falling business sentiments and falling cashflow in the market due to the coronavirus scare. Currently the housing market is going through a very challenging time and the cut in rate will help in encouraging people to buying a house in Australia. Follow home link https://www.verticalbricks.com.au/

Migration and housing in Australia

Annually around half a million people migrate on short term and long term visas. It contributes substantially on the population growth. Migration is impacted by events such as protests in Hong Kong and India. Recently we have seen a surge in migration enquiries from Hong Kong. Buying a house in Australia will be more expensive as demand increases. Follow home link https://www.verticalbricks.com.au/

Factors affecting housing market now?

There are two opposing factors that are weighing heavily in the housing sector. On the one hand buying a house in Australia is getting more affordable due to the fall in interest rates and on the other hand the current Corona virus crisis is adversely affecting the economy overall reducing the demand. The net effect remains to be seen. Follow our link https://www.verticalbricks.com.au/buying-house-in-australia