Harry Triguboff sees no more need for buyer incentives as market warms up
AUSTRALIA’S biggest developer of apartments, Harry Triguboff, says his Meriton Group will put an end to buyer incentives soon now that the property market starts warming up, “The prices are going up, so we are nearing the end of our offers and apartment buyers need to act quickly.” Says Mr. Triguboff.
The property market has already shown signs of recovery in the past weeks, aided by historically low interest rates, and is expected to pick up more in the coming year. Property prices in Sydney are forecasted to rise 9% in 2021 according to ANZ. Historically low interest rates and Government incentives will be the primary boosters for the market, despite negative impacts from reduced immigration. As the Australian Government prepares to bring back international students and a vaccine breakthrough imminent, confidence in the property market is growing quickly.