Commonwealth Bank’s Michael Blyther believes so. Saying that ‘monetary policy stimulus is clearly working for the housing market’. CBA’s Household Spending Intentions (HSI) data release has outlined that home buying intention is continuing at a positive rate. The overall report presented has outlined that we may very well have hit the beginning of a ‘gentle upturn’. The report has backed the Reserve Bank of Australia’s view that the market may have finally slowed and is ready to turn around in a positive direction. The data recorded has jumped back up to the 2017 high that existed before the drops through 2018. It is expected that these levels of intention can be reported as growing even further with the additional rate cut periods, as the current report shows up until the end of October 2019.

While this data centres around opinion, not sales statistics, it is still positive to see encouraging sentiment coming for the industry. While the size of the improvement is quite gentle, considering the significant changes made to tax rebates and interest rates, the improvement is welcomed.

Reports have shown that there has been an increase in prices, with the potential bottoming out having happened. Retail spending intentions are also showing subtle improvements, with all intentions of home buying sharply improving.

As prices begin to take an upward shift, and stock availability changes, the market is primed to be taken advantage of with interest rates at very low levels. If the market expectation is anything to go by, 2020 may see the beginning of a wonderful real estate year.

If you are looking to make a change, if you are wanting to capitalise on the current market before we potentially see a full turn, start exploring your opportunities here.