WELCOME back!
We start 2022, two years into COVID-19 pandemic. The Australian property market has proven to be resilient during 2020/2021 but 2022 presents new challenges, as we’ve seen with the arrival of the Omicron variant.
There are three elections looming – the federal, Victorian and South Australian. The property market has supported the Australian economy over the past two years and governments will again be turning to the sector to lead the way.
Economists predict the Reserve Bank will raise interest rates later this year, which will put further pressure on Australians. This comes after the Productivity Commission this week found the housing affordability crisis is worsening.
At the same time, businesses and the retail market continue to face headwinds including staff shortage, supply chains issues and the shadow lockdown. The office market and CBDs had hoped for workers to return to offices at the beginning of 2022 but Omicron has delayed those plans. Meanwhile the industrial market continues to boom.
2022 will be the year to watch!
Australian Property Journal (APJ) is ready to deliver to the latest news to keep our readers informed, we also have a great line up of podcasts with property industry leaders this year including on the capital markets, rural and regional Australia, agribusiness, retail, office and so much more!
APJ will also be launching new features to keep for our readers, so stay tuned!
