You can just never tell how a year will pan out … At the start of 2019, investors were primed for a year of change and challenges. There were genuine concerns about what might happen with the market, given the trajectory the Australian market was then on, along with the bedding in of new government policies.

But 2019 didn’t unfold quite as expected or feared. First up, after months of anticipation, the Government decided to ditch the proposal to introduce a capital gains tax. This development appears to have eased some of the concerns around investing in property going forward.

As the year progressed, mortgage rates just kept being lowered and they have now been sitting at a historically low level for some time. Serviceability criteria was also eased by many banks later in the year. This allowed for better access to finance for more people.

The combination of these factors, along with the ongoing supply shortage had a noticeable impact on the market.

Towards the end of 2019, data was increasingly positive and showed definite signs of an uptick in the market. Signficantly, this trend included the long dormant Auckland market.

This means that as 2020 kicks off, there’s a more upbeat feeling surrounding the outlook for the market, and for investors, than there has been for several years. As an example, the latest ASB Housing Confidence Survey is just out at the time of writing and it has confidence in the housing market at a seven year high. So what do the experts make of this marked change in tone and expectations? Read our annual summer forecast in this issue to find out. It features a range of industry participants and investors who all share their thoughts on what might happen in the year to come.

One theme to emerge is that 2020 is set to be a stronger, busier year for the property market than 2019 was. However, our commentators don’t expect a return to the heady days of skyrocketing prices and frenzied activity seen at the last peak of the market.

Another theme to emerge is that while the outlook for 2020 is bright generally – including for investors there are some storm clouds on the horizon. The major one for investors could be the Government’s tenancy law reforms, although their final form is yet unknown.

What does this all mean? Well, it means there are opportunities out there for investors and this coming year could see more scope to take advantage of them than in some of the years to come. But, as several of our experts told me, it also means it’s more important than ever for investors to keep on top of what is happening in the market, to be informed about current trends and potential changes, and to act decisively when necessary.

As ever, we aim to help out with that through our stories and content. So, here’s to happy reading – and successful investing – in 2020!