FROM OUR PRINCIPALS
Over the past two years we have experienced an amazing amount of growth in local house prices, this rise persisted whilst all the expert economists continued to talk the market down throughout the covid pandemic. It was the perfect environment for house price growth, and nothing was going to hold the market back from expanding in a period of low interest rates, low stock levels and high buyer demand.
So, the question everyone is asking at present is, what is going to happen for the rest 2022? As expected, we are now seeing good growth in the unit, apartment, townhouse and duplex sector.
This usually follows on the back of house price growth and with several exceptional sales we have already had this year, we can confirm it is a great time to sell if you own a property in this sector.
The Real Estate market continues to thrive; across our offices, we have completed more than $46M sales value in the quarter (April to June). We share more insights in our market statistics report, highlighting the overall growth in the region (page 6 & 7).
We have tenaciously managed the ongoing impacts of COVID-19 to continue delivering excellence for our customers throughout the last twelve months and more.
Now to answer the big question that is on the tip of everyone’s tongue at present…. Which way is the market heading for the second half of this year? We are now seeing the market stabilise and expect property prices to plateau over the next 6 months. There has been plenty of speculation in the press about house prices dropping but we do feel quite shielded from that here in our very tightly held location.
We hope you enjoy this update, and we hope it inspires you to make your next property decision.
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