With the past few years delivering unprecedented sales results, those with an interest in property may be wondering what we will see in this new year? And, albeit very early, already there are important signs being revealed throughout the marketplace.
The last two months of 2016 saw renewed interest in the property market across the country. Sydney and Melbourne benefited from an increase in sales volumes, while the other capital cities benefited from stronger buyer enquiry from investors, as well as families looking at moving up the property tree.
While some economists are predicting a dip in prices, we are confident that prices will again increase over the first six months of the year — however, we may not see double digit gains that Melbourne and Sydney achieved over the last 12 months. Nevertheless, we are now seeing some vendors taking advantage of the higher prices and looking to list their homes on the lead-up to Easter.
One of the main deterrents in listing has been the concern that there may be a lack of property to buy back into, and vendors want to make sure that they will be able to re-enter the market relatively quickly. Traditionally, the lead up to Easter is one of the strongest period to sell property. So if you are going to sell, we would recommend that you take advantage of the pent-up demand and speak to a professional agent now.
Over the holiday break, many regional centres have seen a renewed interest in property, particularly within three hours of the major capitals. Many families are taking advantage of new infrastructure projects that governments have implemented over the last two years, and new technologies which enable people to work from remote locations.
However, the fact remains that demand is outstripping demand and governments need to plan for better infrastructure, as well as speeding up the development process while also looking at ways to reduce the sale cost — especially stamp duty.
So don’t hesitate. With a steady economy predicted for the foreseeable future, property is a pretty safe investment. You can always be confident that, whether you are selling, buying, or engaging a professional managing agent, Raine & Horne are here to assist you with your particular property requirements.