President of the Real Estate Institute of Australia, Adrian Kelly, has stated that 2021 should see further increases to property prices as the factors behind 2020’s stability remain intact.

Mr Kelly stated that Government stimulus measures and low interest rates played a role in the property market’s resilience, and in turn, residential real estate has been crucial to Australia’s economic performance.

Given the possibility of a Federal election this year, Mr Kelly and the REIA have stressed the importance of policymakers making measured decisions for all players in the industry, including first home buyers and investors.

Mr Kelly said, “Overall, the real estate industry looks forward to a positive year for the Australian property market with the promise of an Australian Covid-19 vaccination program allowing life to resume to a new normal.”

With the States seemingly keeping coronavirus outbreaks under control and sales activity continuing throughout the holidays, the signs are pointing to promising growth in residential real estate this year.