Matt Lewison, CEO OpenCorp unpacks the 2023 Federal Budget and what it means for property investors.
Key points are:
- Property prices continue to go up despite 11 interest rate rises, defying predictions.
- There is now such an enormous shortage of housing, there are fears we will not meet demand.
- 1.1 million households will receive an increase in rent assistance.
- Increase in childcare allowances to help offset labour shortage and get jobs moving faster which will take some presssure off inflation.
Overall message is the median house price is starting to go up which becomes reinforcing for sentiment because as the market starts to move more people want to get active in the market and not miss out on the growth. So the message is to act now.
We encourage you to watch Matt’s video as he explains simply what it means for investors.