The Real Estate Institute of Australia has cautiously welcomed the Federal Budget, saying it provides an encouraging outlook for all players in the Australian property market, but is contingent on the Government’s forecasts coming to pass.
“The Australian Government’s focus on creating employment and generating re-employment through various Budget measures is welcomed by REIA and is good news for tenants, investors, home owners and those wishing to sell,” REIA President Adrian Kelly said.
“Economic activity is forecast to pick up strongly from late 2020 and into early 2021, driven by a further easing of COVID-19 containment measures and improving business and consumer confidence.
“That being said, we need to be realistic about the challenges the global pandemic, and the Budget’s forecast may prove to be optimistic given the uncertainty of overcoming of COVID and the re-opening of borders.”
Want to comment on this posting? See the “Comment” box below.