Market to take off with revised 8% rise

With about half of Australia's workforce working from home at least two days a week since the wake of the pandemic, we are seeing this work/life shift influence buyer preferences which now place greater emphasis on apartments with study and home office spaces.

In the absence of a study nook or alcove, many opt to simply convert a bedroom or transform the endless versatility of bright and enclosed winter garden areas into spacious and welcoming home offices. If this is an important factor for you, we currently have a number of two bedroom apartments available that are suitably sized to accommodate a dedicated home office, or already include a study alcove to perfectly suit your flexible work arrangement.

This week we placed three properties under contract, marking our third off market sale for the year as we exchanged a two bedroom apartment before we even had a chance to prepare it for sale. The exchange saw one very satisfied buyer finally able to make a well anticipated purchase after recently missing out on other local properties of interest that drew significant competition.

The very evident competition is driving a more confident increase in buyer urgency as many come to the realisation that the longer they wait, the more likely that missed opportunities will be a reality. With a stronger than expected housing turnaround this year, NAB has yet again revised its forecasted dwelling values, expecting an average national rise of 8% in 2021, and already predicting that 2022 will continue the current trajectory of gains. 

We promised you an update on the Government’s proposed amendments regarding pets and strata, as community consultation is now underway to establish clear guidelines on what circumstances pet ownership in strata buildings may be considered unreasonable. Regulations should be finalised within six months, and we’ll let you know the details of how the new requirements will interact with existing by-laws.

 

Alexander Chidiac
When it comes to dealing with buyers and sellers in Wentworth Point, Rhodes, Newington and throughout this part of the inner west, Alex enjoys an exceptional reputation earned from over 10 years’ experience in the industry.

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