The market has been the talking point of many people over the last few years as we have seen the highs and lows of a covid affected market and then the bounce back to new highs in the years following. The discussion has been around affordability and employment levels and when the market might “come off”. The Reserve Bank made a statement in the latter parts of 2022 with a number of interest rate rises that definitely slowed the real estate market. The reason was to try to curb inflation concerns. The rate rises have had an effect but there still remains strong indicators that the market won’t “crash” and that the early parts of 2023 will remain consistent.
As has been the trend of recent years, those properties in high demand are those well presented, in a prime location, with an X factor or smart design, and of course those that are well priced for the market. Savvy buyers, sellers and renters should do their homework, by not just researching prices but also attending auctions and open homes to get a feeling of the property. It costs nothing to attend one of our open homes or auctions and this can give you a better insight. It’s also important to engage with our agents to get their insights on the market at the time you are entering. The market changes month to month and although the seasonal factors are having less impact than previously, its wise to plan your buying or selling to maximize your impact.
We wish you the best for your real estate journey and welcome the opportunity to chat about how we can help you.