TABLE OF CONTENTS

Chief Executive Officer - Project Marketing j.coppini@oliverhume.com.au

FOREWORD

It is now becoming increasingly clear that the COVID-19 global pandemic will be recorded in history as one of those events, few and far between but not altogether uncommon, that will reshape many aspects our economy, society and technology.

To be sure, the end of 2020 and the beginning of the new year appear altogether different to the promise of early 2020.

However, in some respects, perhaps some things are not all that different.

For the property market, at least, early 2021 finds us in a position similar to that of early 2020.

In early 2020, before COVID-19 had emerged in a major way, the outlook was one of optimism and growth.

This was especially the case after a period of moderation in prices and activity which followed an earlier boom and significant changes in the lending and regulatory environment.

Similarly, early 2021 can be characterised as period of cautious optimism.

While COVID-19 is still with us, Australia has managed the pandemic relatively well although important lessons have been learnt. Undoubtedly, we are now better prepared for the next pandemic and, if history is any guide, a similar event can be expected in the future.

On the economic front, a clear observation is the need for timely and intelligent Government economic support.

In this respect Australian Federal and State Governments, together with the Reserve Bank of Australia (RBA), have played a pivotal role ensuring that activity and confidence can return more quickly than previously forecast.

The Australian property market property has remained relatively resilient in 2020, despite unprecedented challenges, and 2021 is set to be a year of consolidation and stabilisation.

At the time of writing, the Australian property market was characterised by rising sales volumes and prices. Indeed, some capital cities have reached new dwelling value peaks or were close reaching new highs.

Residential land markets are also seeing greater strength and confidence.

The Victorian and Queensland land markets saw rising sales volumes in the December quarter as buyers rushed to take advantage of the Federal Government’s HomeBuilder program, low interest rates and the first home loan deposit scheme.

Each of these markets is responding to its own unique opportunities and challenges.

For example, the Victorian market is rebounding strongly having undergone two extended lockdowns. The Queensland market also remains solid given its relative affordability and significant impact of HomeBuilder.

Since the last QMI was released – and indeed throughout 2020 as the impact of COVID-19 was felt most acutely – we have continued to monitor the impact of digital and other technologies on the market.

If anything, the evidence continues to suggest that the intersection between property and technology will be a critically important component and driver of the post pandemic property market.

Having access to real-time data - combined with the skill set, knowledge and wisdom to interpret and understand information and analysis, is arguably – more important today than ever before.

Providing our clients, stakeholders and strategic partners with the latest data and insights to better anticipate the future and make the right strategic decisions is a key priority for Oliver Hume.

In these uncertain times this latest quarterly report is an invaluable tool for understanding current and emerging trends in the property market. The report includes a range of data and indicators, including our own proprietary property intelligence, compiled and analysed by our specialist in-house research team.

Perth WESTERN AUSTRALIA

Darwin

NORTHERN TERRITORY

SOUTH AUSTRALIA QUEENSLAND

Brisbane

Gold Coast

Adelaide NEW SOUTH WALES

Sydney

VICTORIA

Canberra

Melbourne

TASMANIA

Hobart

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NATIONAL AND BUYER HIGHLIGHTS