Every year, we have a chance to reflect on the year and think about the future. What do we want to achieve in the next 12 months? Where to go on holiday? Could the house do with a lick of paint?

However, 2020 was a bit different, fundamentally changing the way we live, work and travel. As a result, the questions—and the answers—are more complex.

Especially when it comes to property.

In fact, the market is contradicting predictions. While it was believed prices would fall by 10%–20%, they’re now expected to ‘surpass pre-Covid levels’ in 2021.

In Southern QLD (Gold Coast region) alone, property prices are set to ‘increase dramatically’ thanks to a flurry of first-time buyers.

So, what do you do? Wait, sell or renovate?

Fortunately, we’ve digested the information to help bring a bit of clarity.

Love it

With kitchens, bedrooms and lounges converted into makeshift offices, 2020 made us rethink what we want — and need — from our homes. And, for many, our humble abodes just didn’t work for us anymore.

But, as mentioned earlier, moving may not be an option in this market. Instead, it may be better to show your house a little love.

After all, everything you’re looking for could be found by knocking down a wall or two. And by putting in the work this year, you could find yourself reaping the rewards later down the road.

A quick rule — add significant value with minimal risk by investing only 2% of your property’s current worth. And don’t do anything too eclectic—make it sellable by following current trends.

List it

While selling your house while the market’s rising may seem smart, it’s worth remembering that you’ll also have to buy in the exact same market.

But sometimes you just have to move.

Our suggestion? Think beyond the city.

With remote working becoming more of a reality, professionals are heading out of the CBDs and into more affordable regional locations.

This trend could continue in the future, potentially adding even greater value to your new investment.

If you are ready to move up, or just move on, our competitive home loans can help.


Last year, we gave a helpful brief summary of the process you may go through as a first time buyer.

And while the process remains the same, some things have changed.

Mostly, the number of people you’re up against.

According to QBE’s Australian Housing Outlook, first home buyers were up 13% in June 2020 compared to the previous year. This helped push housing affordability down 22%.

But that also doesn’t necessarily mean you should wait. A recent piece of research showed that 16% of Australians are looking to purchase their first home within the next 5 years — compared to 7% in 2019.

So be smart, and wait for the right house for you. You don’t want to overspend on the first house you see.

What’s your choice?

Ultimately, whether to love, list or invest is entirely up to you and your personal circumstances.

But as the world starts to recover from Covid-19, the impacts will be felt for years to come. And that could either be a benefit or a hindrance — depending on your circumstances and aspirations. Only time can tell.

However, in the meantime, our competitive home and personal loans can help you do more for less.

Learn more—view our loan options, or speak with one of our local lending specialists in person, or via phone or chat.

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This article is prepared based on general information. It does not take into account individual financial objectives or needs and is not financial product advice.