{"id":1340,"date":"2021-12-27T10:00:42","date_gmt":"2021-12-27T10:00:42","guid":{"rendered":"https:\/\/royabhishek.in\/urbanbuyer\/property-updateheres-what-im-expecting-to-happen-in-property-now-thats-weve-worked-our-way-through-covid\/"},"modified":"2021-12-27T10:00:42","modified_gmt":"2021-12-27T10:00:42","slug":"property-updateheres-what-im-expecting-to-happen-in-property-now-thats-weve-worked-our-way-through-covid","status":"publish","type":"post","link":"https:\/\/royabhishek.in\/urbanbuyer\/property-updateheres-what-im-expecting-to-happen-in-property-now-thats-weve-worked-our-way-through-covid\/","title":{"rendered":"Property UpdateHere\u2019s what I\u2019m expecting to happen in property now that’s we’ve worked our way through Covid"},"content":{"rendered":"

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Now that we\u2019ve worked our way through Covid, what can we expect to happen to our property markets over the next decade?<\/strong><\/p>\n

That\u2019s a common question I\u2019m being asked by both our clients at Metropole<\/a> and many media sources now that we\u2019ve experienced a strong year in property, but we\u2019re facing headwinds like APRA<\/a>\u2019s intervention and the potential of rising interest rates.<\/p>\n

But I think I\u2019m disappointing them with my answers because I tend to say something like \u201ca lot will happen over the next decade, but I don\u2019t make forecasts \u2013 instead, I have expectations. \"Forecast\"<\/p>\n

Now there\u2019s a big difference between forecasts<\/em><\/a> and expectations.<\/em><\/strong><\/p>\n

I expect there to be another recession in the next decade.<\/p>\n

But I don\u2019t know when it will come.<\/p>\n

I expect the property market to continue to remain strong over the next year or two and then prices will slump or maybe even tumble. But I don\u2019t know when.<\/p>\n

I expect that some investments I will make won\u2019t do well.<\/p>\n

But I don\u2019t know which ones they will be.<\/p>\n

I expect interest rates will rise. Probably not for a number of years. In fact, I don\u2019t know when.<\/p>\n

And I expect another world financial crisis and probably another pandemic.<\/p>\n

But I have no idea when these will come.<\/p>\n

Now these are not contradictions or a form of cop-out<\/h2>\n

As I said\u2026there\u2019s a big difference between an expectation and a forecast.<\/p>\n

An expectation<\/em><\/strong> is an anticipation of how things are likely to play out in the future based on my perspective of how things worked in the past. <\/p>\n

A forecast<\/em><\/strong> is putting a time frame to that expectation.<\/p>\n

Of course, in an ideal world, we would be able to forecast what\u2019s ahead for our property markets with a level of accuracy.<\/p>\n

But we can\u2019t because there are just too many moving parts.<\/p>\n

Sure, there are all those statistics that are easy to quantify, but what is hard to identify is exactly when and how millions of strangers will act in response to the prevailing economic and political environment.<\/p>\n

Then there will always be those X factors that crop up.<\/p>\n

Those unforeseen events that come out of the blue, which could be local or overseas that undo all the forecasts we made.<\/p>\n

Just look at the major events that have rocked our world in the last few years that no one could foresee coming.<\/p>\n