Nearly two years after the Federal Government closed our borders to international migrants, students and holidaymakers, Prime Minister Scott Morrison has announced that borders will reopen on February 21, 2022.
“The condition is you must be double vaccinated to come to Australia. That’s the rule. Everyone is expected to abide by it,” he said.
The news is welcomed by property investors - particularly those with properties within city centres who experienced a sharp decline in demand following the closure. As a result, experts are now predicting rental prices to increase, with most property values set to skyrocket in the coming months.
Property investors across the nation are taking note of the anticipated rise in demand and projected growth - particularly towards off-the-plan apartments and townhomes that deliver a higher quality build in a highly convenient location.
Graham Cooke, Head of Consumer Research at Finder, says, “Not only will property values continue to rise, albeit perhaps more slowly, rental prices are also set to jump significantly.”