Rich Harvey

There's just not enough stock available to buy, generally speaking.

Fourthly, we're seeing the economy growing.

You know, we're on track actually for GDP or gross domestic product growth for around 4.25% this calendar year and around 3% next calendar year.

So the economy isn't crashing, it's actually resilient and growing again.

The fifth factor underpinning prices is low vacancy rates, around 1%.

We've got a serious rental crisis.

Number six, we've got massive rental increases as a result.

Number seven, low unemployment.

Number eight, strong household balance sheets.

Number nine, borrowers are ahead on their mortgages.

So during COVID, a lot of people actually paid more to pay down their loans than they actually needed to pay.

So we've actually got a bit of a buffer in our accounts.

Number 10, APRA are still requiring the banks to provide a serviceability buffer of 3% above the mortgage rates.

So when they're assessing your loan, they're actually building in an increased cost there.

11, wages are growing.

We had a recent decision, you know, the Fair Work Commission increased wages for lower paid workers, but we're also seeing across the board wage pressures growing.

12, construction costs are rising.

So that means that the replacement value of your home is also rising, which helps to underpin property prices.

Number 13, the federal government's introduced a help to buy shared equity scheme.

And also in New South Wales, number 14, there's a proposed first home buyer stamp duty reform and a shared equity scheme that they're proposing to put on the table.