The proportion of Australians who expect house prices to rise in their area has almost quadrupled in just three months. In a September survey by financial comparison website Finder, only 5% of people expected house prices in their locations to rise sharply. However, this survey of 1,004 Australians found that by December last year, this proportion had almost quadrupled to 19%. CoreLogic’s data shows that last year, 39 of Australia’s 88 regions hit a record high in house prices. Among Finder’s respondents, the proportion of people who expected an increase in Australian house prices rose to 44% last month. In the early stages of the epidemic, in April, the proportion of people who expected an increase in Australian house prices was 18%. Graham Cooke, manager of Finder insights, said the findings showed that after a year of horror including the Covid-19 recession, Australians are optimistic about the economy. He said: “The rebound in buyer confidence shows the increase in economic activity in the past few months and the optimistic outlook for 2021. Not only has the Australian government done better than most countries in limiting the spread of COVID-19, the federal and state Economic support measures have also helped support the real estate market.”
https://www.dailymail.co.uk/news/article-9132931/Why-Australians-expecting-house-prices-surge.html