Amid the economic fall-out from the drought and bushfires and the unfolding problems associated with the coronavirus, the Australian housing market is seeing further strong price gains, a tight rental market and a turning point in new construction.
Based on the work we've been doing in real estate the last couple of years, I think it's safe to say it's a pretty interesting time to be in the real estate business right now. I want to provoke you to think for a moment around whether we've got our eye on the right ball that's in the air right now.
Dr. Catriona Wallace has established herself as the innovative go-to expert for optimizing customer experience. As a result, she's the most natural authority to consult with when looking at ways to introduce emerging technologies into business.
Increasingly, consumers, customers, buyers, landlords, tenants, people in commerce all want to think long term. Mobile interfaces enable buyers, sellers, landlords, tenants to make smart decisions in real-time as house hunting increasingly goes mobile. That mobile search is on!
As old as the real estate business itself is the question of how to make the acquisition of real estate the easiest to be funded and thus the easiest to access for the largest number of people possible. Answering those questions, stakeholders sometimes had been extremely creative. It could be a nation that subsidized the purchase of real estate through tax credits. This happened e. g. with East-German real estate after the reunification of Germany. 25 years later, with the emerging fin-tech boom and acceptance, crowd-funding was born. It did not take long and the first real estate acquisition was funded by a crowdfunding concept.
Things are brewing in the housing market: Having been hit hard under the weight of a property glut, record low wages growth, tighter credit from the banks and the Reserve Bank refusing to cut interest rates despite troubling economic conditions, house prices around the bulk of Australia fell sharply from around the middle of 2017 through to the middle of 2019.