{"id":29532,"date":"2020-12-08T10:34:17","date_gmt":"2020-12-07T21:34:17","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=29532"},"modified":"2020-12-08T10:38:57","modified_gmt":"2020-12-07T21:38:57","slug":"australians-ready-to-buy-property-in-2021-after-record-savings-taw","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/australians-ready-to-buy-property-in-2021-after-record-savings-taw\/","title":{"rendered":"Australians ready to buy property in 2021 after record savings"},"content":{"rendered":"<p><strong>PHOTO: Australians&#8217; appetite for bricks and mortar has returned amid rising confidence.\u00a0<span class=\"photographer\">Photo:\u00a0Peter Rae<\/span><\/strong><\/p>\n<p class=\"first-para\">The housing market will take off in 2021 after a long year plagued by the pandemic-induced recession that saw Australians squirrel away $110 billion in savings, according to experts.<\/p>\n<p>While the coronavirus hit Australian shores hard earlier this year, the health crisis and the economic devastation it brought with it have since steadily improved.<\/p>\n<p>The lockdown saw the real estate sector shutdown like many other industries, impeding normal selling and buying and dragging down property prices.<\/p>\n<p>But with the economy out of a recession and auction clearance rates steadily rising, Australians\u2019 strong appetite for bricks and mortar has returned \u2013 and some of the\u00a0<a href=\"https:\/\/www.theage.com.au\/politics\/federal\/australians-put-their-money-in-the-bank-but-yet-to-spend-it-20201130-p56j54.html\" target=\"_blank\" rel=\"noopener noreferrer\">$110 billion that households saved during the pandemic<\/a>\u00a0is likely to go into the housing market.<\/p>\n<p>Commonwealth Bank Of Australia\u2019s head of Australian economics Gareth Aird said improving consumer sentiment, low interest rates and cashed-up households were fuelling price growth.<\/p>\n<p>\u201cYou\u2019ve got a few forces that are all pointing to higher house prices,\u201d he said. \u201cSome of the forward-looking indicators like lending have increased quite quickly in the past four months,\u201d Mr Aird said.<\/p>\n<p>He said property markets around Australia showed no signs of slowing into next year.<\/p>\n<p>READ MORE VIA<a href=\"https:\/\/www.domain.com.au\/news\/australians-ready-to-buy-property-in-2021-after-record-savings-1013295\/\"> DOMAIN<\/a><\/p>\n<h3 class=\"widget-title\"><span class=\"accent-typo\">MOST POPULAR<\/span><\/h3>\n<ul class=\"widgets-list-layout no-grav\">\n<li><a class=\"bump-view\" title=\"Why stars are fleeing corona-stricken US for a better life in Australia\" href=\"https:\/\/propertynoise.co.nz\/au\/why-stars-are-fleeing-corona-stricken-us-for-a-better-life-in-australia\/\" data-bump-view=\"tp\"><img decoding=\"async\" class=\"widgets-list-layout-blavatar lazyload\" 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&rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":29533,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478099548,478098512,478098521,478106326,478106130,478106351,478098519,478098535,478099030,478098513,478101743,478098873,478098579,478098510,478098511,478098509,478104480],"class_list":["entry","author-data123nz","post-29532","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-auction-clearance-rates","tag-australia","tag-australians","tag-bricks-and-mortar","tag-commonwealth-bank-of-australia","tag-gareth-aird","tag-home-ownership","tag-house-prices","tag-housing-market","tag-property","tag-property-correction","tag-property-investment","tag-property-market","tag-property-news","tag-real-estate","tag-real-estate-news","tag-real-estate-sector"],"yoast_head":"<!-- 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