When in doubt pan out!

Often when the property market is neutralising or falling, the media really turns on the fear-mongering – it’s a great way to sell advertising and attract eyeballs. However, we strongly encourage you to take a minute and look at the bigger picture – and you’ll see that it’s far more optimistic.  

Yes the market has dipped, but after experiencing a 30% increase last year in one of the most intense growth periods in our property market history, a correction was always going to happen. Instead, if we look at overall growth over the past 10 years, your property is likely to be double, if not triple what it was a decade ago, depending on where you live.

When the market turns, we know from experience that these cycles are short lived. The good news is that our area has so much going for it, making it a perpetually prudent investment. Unlike perhaps the North Shore or the East, we still have a bit of kick in our market, with fringe suburbs continuing to be gentrified and transformed. Marrickville, for example, is likely to experience record prices within the next 2-3 years as increasing money flows there as buyers seek bigger houses, more space and better value, which is exactly what we’re seeing unfold.

While the market may continue to dip for 18 months, perhaps longer, local buyers need to be aware that they’re purchasing in an area of enduringly strong demand – a desirable destination that’s firmly on the radar and will always progress forward in time.

Our advice is don’t put all your stock in the apocalyptic headlines. Come in and have a chat with our agents who are at the coalface of the market, understand how our area works and engage firsthand with our healthy buyer pool. We’ve been operating in this market for over 25 years and we can cut through the noise, witness the real changes and understand our transforming demographic. Regardless of interest rates, elections or pandemics, the fundamentals are that demand is there and astute money continues to flow into our regions. We have a finite number of houses and a growing community of people who want to live here, giving you a real opportunity to create wealth, regardless of every small blip in the market.

Posted in All Offices, Inner West, Tips for Selling on 31st May, 2022