- January 19, 2021
- Posted by: Rogers Property Group
- Categories: International Property Market, Latest News
Australia’s financials have been very well managed by Scott Morrisen and the current Liberal government. For what everyone thought would be a deep and long recession coming into the virus shutdowns has turned out to be pretty smooth sailing and in fact, for many businesses it has actually been a boom period of high growth and profitability. Most sectors apart from international travel are doing very well.
One issue that has been raised that many businesses are facing at the moment is not so much from lack of sales but more so finding staff to fill the work positions. With the current handouts being excessive (doubling of the dole payments etc) many people have no desire to work. It is easier for them to stay at home and not work. This needs to be addressed soon before it causes long term issues.
We are now technically out of recession. Due to the increase in GDP in September, the recession finished then. Wage growth is up and inventory levels are down. Property values have increased considerably through 2020 across most states and it appears that they will not be slowing down any time soon.
With the vaccine not far away, it appears that life will be back to normal soon and the virus period will just be a blip on the charts for most people.