A client asked us a question recently regarding borders opening up and international arrivals happening again. They were curious what impact, if any, this would have on house hunting and the housing market overall.
Real estate is a finely balanced eco-system. Not one thing generally has a huge impact, but over time, several things can affect market sentiment.
As the borders open up, arrivals (both interstate and overseas) will start to have some impact. Statistics do show that initially, new arrivals tend to rent for 2-3 years, before they buy. Initially people rent somewhere to live (in an investment property) and then they buy (owner occupied property).
During the pandemic, some rental providers lost renters or had to provide rental reductions. There were also quite a few vacant homes. Those homes need to be soaked up before investors decide to dash back into the market.
Additionally, with the acceptance of being able to work from home, home buyers can live where they want versus where suits best for a commute. The push for inner city to be close to the CBD has eased, but as more people are required to return to an office to work, this may change.
Couple this with more stock hitting the market over the past few months and looming interest rate rises, we are starting to see an easing of the market in some suburbs for some particular types of housing stock. Where we see more choice, is with what we traditionally see, and that is with “A Grade” homes. They continue to do well. The “B” and “C” grade homes are starting to suffer a little bit. The A, B and C equation exists in all suburbs.
No matter what the market does this year, make a time to chat to us to see how we can help and how we can make the process of buying or selling easy and stress free.
We do offer our negotiate service for those buyers in the market looking to pounce on opportunities that arise. Get in touch if you’d like to know more.
Ask about our Home Buyer Search and Acquisition Service, where we do all of the legwork on your behalf to MAKE IT EASY to secure your new home.
Give me a call on 03 9686 2288 to discuss how I can help. I offer a free consultation, so why not call today?
By Wendy Chamberlain
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With a passion for all things real estate spanning over 20 years, Wendy loves that her role as a Buyers Agent or Sellers Advocate gives her buying and selling clients an experienced voice they can trust when it comes to negotiating to buy or sell something as important as their home or investment. Wendy considers it a privilege to be asked to help others realise such an important goal as home ownership and to be trusted with that honour. Get in touch today via www.chamberlainadvocates.com.au for a no obligation chat about how Wendy can work with you and help you save time and money to secure your new home sooner.
