The voter-wary federal government sees housing as an asset class too big to fall and will likely extend the JobKeeper supplement again next year to shore up the market, leading to price gains of up to 9 per cent in 2021, says property research company SQM Research.
The most likely scenario next year is that the government extends JobKeeper for another six months to September to prevent distressed sales by owners, leading to gains of up to 12 per cent in Perth, 11 per cent in Sydney and 10 per cent in Adelaide, SQM says.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
