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How the COVID vaccine will impact Australian property market [Crash in 2021?]

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Added by COVID in Coronavirus in Australia & Oceania
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Watch the video “How the COVID vaccine will impact Australian property market [Crash in 2021?]” and like it!

Drug company Pfizer announced on Monday night that its COVID-19 vaccine may be 90 per cent effective in stopping the virus — so how will this affect the property market in 2021? Find out in this video.

According to https://theconversation.com/1-4-million-less-than-projected-how-coronavirus-could-hit-australias-population-in-the-next-20-years-143544

"Our analysis of Australian Bureau of Statistics data shows, the closure of Australia’s borders led to a 97% drop in permanent and long-term overseas arrivals in April 2020 from the previous year, most of whom were migrants."

00:00 How the COVID vaccine will MASSIVELY affect the Property Market [2021]
00:34 Pfizer 90% effective at preventing COVID-19
01:15 Demographics and property
01:42 Up to 4% reduction in Australia's population
02:11 Migration and housing demand
03:00 What happens if borders open up
03:13 Australian property market trends
03:30 Credit growth vs property growth
03:45 Fact v fiction
03:54 How it will affect property in 2021


References
https://www.abc.net.au/news/health/2020-11-10/covid-vaccine-pfizer-what-you-need-to-know-coronavirus/12866750
https://www.ampcapital.com/au/en/insights-hub/articles/2020/june/econosights-coronavirus-and-migration-impacts-to-Australia-from-lower-population-growth
https://www.roymorgan.com/findings/8544-mortgage-risk-during-covid-19-pandemic-august-2020-202010190553
https://www.corelogic.com.au/news/trends-housing-finance-show-continued-rise-owner-occupiers-and-first-home-buyers-led
https://www.businessinsider.com.au/commonwealth-bank-loan-deferrals-mortgages-profit-2020-11
https://www.macrobusiness.com.au/2020/11/australias-mortgage-cliff-continues-to-shrink/
https://www.smh.com.au/business/banking-and-finance/cba-launches-moratorium-on-forced-home-sales-until-september-2021-20201103-p56b32.html
https://www.afr.com/markets/equity-markets/global-markets-need-a-dose-of-reality-20201110-p56d2o
https://eprints.usq.edu.au/4614/2/Rahman_2008.pdf
https://www.commercialrealestate.com.au/news/investors-pump-2b-into-property-stocks-on-covid-vaccine-update-1004407/


For more info https://www.huntergalloway.com.au/ and https://www.huntergalloway.com.au/mortgage-broker-brisbane/


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Hunter Galloway are an Award Winning Mortgage Broker based in Brisbane. We help clients from our local area, Australia, and all over the world. We believe buying a home should be stress-free and uncomplicated, and we will work for you to make your dreams become reality.


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Our team here at Hunter Galloway is here to help you buy a home in Brisbane. Nathan & Joshua Vecchio are Senior Mortgage brokers who specialise in making your home journey easy.


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If you want to get started, please get in touch and we can book a time that suits you – either a phone call information session or a face to face meeting (which doesn’t cost anything for you).


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What’s the go with the vaccine?


https://www.abc.net.au/news/health/2020-11-10/covid-vaccine-pfizer-what-you-need-to-know-coronavirus/12866750


* The Pfizer trial is one of four potential vaccines the Australian Government has signed an agreement to purchase, if it is successful.


Before I jump into what the covid vaccine will mean for property, What influences property prices in Australia?


According to a paper published https://eprints.usq.edu.au/4614/2/Rahman_2008.pdf


The major long term factors that influences Australia’s property prices are:


* Demography - Demographic factors significantly affect housing prices in the long run. Increasing population growth increases the number of households in a country which in turn increases the housing demand and thus housing price
* Economic growth - positive relationship exists between household income and housing demand. In a country like Australia the income elasticity of demand for housing is likely to be one or greater (Berry & Dalton, 2004 quoted from Bourassa & Hendershot, 1995; Meen & Andrew, 1998). So the demand for housing increases at least proportionately with income. The long term trend in real income is important in explaining house price.

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