Paying in Bitcoin for your first house may be on the horizon in the not so distant future.
As Millenials, Generation Z and property developers seek to expand the use of digital currency, it appears the adoption of blockchain technology into the flourishing housing market is already underway.
The Real Estate Institute of Queensland was one of the first peak property bodies in Australia to adopt blockchain technology for payments.
With reports showing 22% of Aussies believe investing in crypto is easier to save the house deposit than leaving savings in a bank at record low interest rates.
Despite residential construction booming at a total of $18.8 billion dollars for the September quarter, pandemic related materials shortages and shutdowns are the driving force behind the currently hot property market.
With such challenges making it hard to buy a first home or even a next home, it?ll be interesting to watch and see how the crypto-payment for property method evolves in 2022.