Australian property has benefited from numerous support mechanisms and government interventions to bolster its fortunes in the years since the pandemic began.
- $188 billion in funding from the RBA to the banks at just 0.1% interest, facilitating the rise of 3-year fixed-rate mortgages at under 2%. This led to 40% of all Australian mortgages being on a low fixed rate at one point in 2022.
- The RBA slashed the cash rate to 0.1%.
- The Morrison government expanded the number of places in its 5% deposit scheme.
- The Morrison government launched the HomeBuilder scheme.
- The Albanese government’s expansion of the Morrison government’s Home Guarantee scheme.
- A record migration intake that still remains dramatically above immediately pre-COVID levels.
The list goes on and on, with Australian property being one of the most protected assets in the world.
