2019 has the numeric distinction of being a single digit short of a significant click over in the calendar. Doesn’t that seem to promote intrinsic promise?
In this respect, it’s like some sort of “almost ran” figure... tantalisingly close to 2020 but not quite there. In reality though, 2019 should be a year of rejuvenation.
This year, we actually do have an opportunity for cathartics. Anyone who looked back to the December issue of our Month In Review will know that the tail end of 2018 saw real estate news dominated by the trials and tribulations of finance. Heading into this year, we are dealing with the same issues, but the pendulum is beginning to swing back. Many at the helm of our political and administrative bodies have highlighted how credit is an important element of economic momentum in Australia.
2019 will also see Aussies go to the polls as we face a federal election in the first half of the year. While a date had not been set at the time of writing, it is imminent. In 2018, Sydney and Melbourne were in the throes of a softening market. Results showed that they were among the least impressive of Australia’s capitals in terms of annual house price growth. Heading into this year, it appears most commentators believe there will be more of the same... although the perceived severity of “bump” varies among the pundits.
The flow on to other capital cities and regions will be a most compelling observation in 2019. Many are expecting demand to just shift beyond the big capitals but, In reality, what drives our markets is far more nuanced than that. If only there was a way you could drill down into a knowledge base built upon some of our country’s most highly informed minds.
Oh wait! You can!
This month, we follow a tradition of decades past and ask each of our offices for their expectations of their property markets in 2019. The mix is compelling. Some see a shining beacon of hope while others are hunkering in for twelve months of subdued activity. Many have highlighted their places of opportunity as well as the options best avoided in 2019.
The best thing is that come December, each and every one of them will have to revisit these predictions and give us a scorecard on how they performed.
Please enjoy the February edition of Month In Review - you can find the wrap up of the Brisbane market on page 41.