The turmoil of 2020 has opened people’s eyes to their priorities about lifestyle and where they want to live and this had led to a fast forward of interstate migration into Queensland with predictions of even further increases once our borders re-open. So it’s clear, even though we’ve known all along, the sunshine state is the place to be.
One of the main concerns for the Australian property market through 2020 has been the uncertainty around what will happen once the ‘mortgage holidays’ offered by banks and the Governments JobKeeper and JobSeeker schemes come to an end.
This week, in an effort to provide a ‘gradual transition to economic recovery’ the Government has announced their 2.0 schemes and the main focus is cuts to payments under the schemes however the lifespan has been extended until 28th March 2021 for JobKeeper and 31st December 2020 for Job Seeker.
This is a fitting time for the planned changes to be announced to provide some certainty for the future as there has been predictions this week also that Victoria’s six-week lockdown could wipe $9 billion from the national economy. Treasurer Josh Frydenberg said the extent of the damage will depend on the effectiveness of the restrictions.
In an effort to protect our State economy, Premier Annastacia Palaszczuk has closed the Queensland borders as of Saturday 8th of August. The initiative of the Ekka Long Weekends to boost to our economy looks to be proving successful with regions including the Sunshine Coast, Fraser Coast and Southern Queensland country all reporting near full capacity.