The CEO of Australia’s largest property portal Realestate.com.au has shared interesting insights on the current market and consumer behaviours. Supply and demand are shifting back into a state of balance, demonstrated by the portal’s highest number of new property listings since July 2015 and thriving audience numbers, with demand levels underpinned by the consistency of record low unemployment rates, increasing migration, and significant household savings.
While the double digit rental increases recorded across most rental markets is predicted to attract property investors back to the market, the forecasted 5-10% reduction in median prices merely unwinds the property clock to the medians of August and May 2021, respectively.
We’re feeling the balance first hand with three properties exchanged this week, and two new listings to launch. 404/1 Stromboli Strait (one bed in Paros) lasted three days on the market, 22/43 The Boulevarde, Strathfield (three bed) became the pinnacle of convenience for one buyer, and leafy Lane Cove home B206/9 Waterview Drive (two bed) the whisper quiet sanctuary for another.
If a low maintenance, resort style lifestyle is what you’ve been waiting for, we’ve got you covered with: 39/23A George Street, North Strathfield (two bed, two bathroom) - an ultra private and centrally located sanctuary with residents’ pool and tennis courts; and 763/3 Baywater Drive, Wentworth Point (one bed, one bath) - light-filled and roomy living spaces overlooking gardens, with resident facilities and Pulse club access.
