Provincial The Green Guide

provincial the home of new beginnings THANK YOU for your support in 2020 & Where is this market heading in 2021? The Provincial Team would like to say a BIG THANKYOU to all our clients and community for your support over this very interesting and challenging year. A giant roller coaster ride is probably the best way to describe 2020 with Covid-19 hitting our shores in March turning everything to a near standstill and then come May to now a complete turnaround occurred in the real estate market providing our clients with the most amazing sales results and proud sales quarters for the Provincial Team. The big question clients ask us is what is causing this frenzy of buyer activity and is it going to last? Well this is our take on it, we feel it’s an accumulation of a number of factors that’s driving this market including: 1. Interest Rates at an all time low 2. Western Australia created its own pressure cooker economy due to its border closures and Covid free environment 3. We were already heading in the direction for positive growth this year in January and February 4. Government stimulus grants for new home builds, renovations, business and tax incentives 5. Many ex-pats returning from overseas and interstate 6. The rental market vacancy rate is at record lows turning tenants into buyers 7. The Mining Industry is up and running again and people flooding in to reside here 8. More and more buyers opting for a new lifestyle and heading for the hills for the larger block sizes The next question is, is this going to last? Well initially we thought this might just be a short term sugar rush but indicators show it’s going to continue into next year with growth rates predicted around 6 - 10%. Western Australia is in a prime position right now and in the spotlight both nationally and globally and considered to be one of the safest places to live, a place that offers so many opportunities and endless potential. ‘How blessed are we to all live in this state and even better in the City of Kalamunda’ Wishing everyone a wonderful festive season and Happy, Healthy and Prosperous 2021 Warm Wishes The Provincial Team