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New Year, New Opportunity to Buy and Sell Property

New Year, New Opportunity to Buy and Sell Property

The New Year is here, and with it comes new opportunities for buying and selling property.

Whether you’re a current homeowner looking to sell, or someone looking for a new place to call home, this new year brings a fresh start and a world of possibilities.

With property prices upstaging expert predictions in 2023, 2024 is an exciting time to be in the market. In this blog post, we’ll take a closer look at what’s in store for the Australian property market in 2024 and how you can make the most of it.

Property prices on the rise

With the exception of the Covid Pandemic, the property market in Australia has been on the rise for several years now, and the trend is expected to continue in 2024.

This year, we can expect to see property prices continuing to increase. This trend is being driven by factors such as population growth, strong demand for housing, and hopefully, more predictable interest rates.

What does this mean for you? If you’re thinking of selling your home, now may be the perfect time to do so, as you could benefit from the high demand and potentially sell your property for a higher price. On the other hand, if you’re in the market to buy, it’s important to be prepared and secure a property before it’s snapped up by someone else.

Urbanisation Continues

As Australia’s population continues to grow, so too do its major cities. In 2024, we can expect to see a continued trend towards urbanisation, with more and more people flocking to major metropolitan areas like Sydney and Melbourne.

For sellers, this means having access to a steady stream of potential buyers, while buyers will have more options to choose from in high-demand urban areas.

A housing supply shortage

One of the key challenges facing the Australian property market in 2024 is a shortage of housing supply. While demand for housing continues to rise, there simply aren’t enough properties available to meet this demand.

As a result, property prices are being driven up further, making it even more challenging for first-time buyers to get onto the property ladder. If you’re a homeowner thinking of selling, this shortage of supply could work in your favour, as you may be able to sell your property more quickly and for a higher price.

Prospective buyers should get their finances in order as quickly as possible, so that when the right property comes along, they can pull the trigger straight away.

The rise of sustainable housing

As awareness of climate change continues to increase, more and more people are looking for sustainable and eco-friendly housing options.

In 2024, we can expect to see a rise in the popularity of environmentally conscious housing, with features such as solar panels, energy-efficient appliances, and water-saving fixtures becoming increasingly popular.

Not only are these features good for the environment, but they can also help to save homeowners money on their bills in the long run. If you’re thinking of selling your home, incorporating these features could help to make your property more appealing to prospective buyers.

People are still working from home

The pandemic had an enormous impact on the way we live and work, with remote work becoming the new norm for many Australians. Even with the pandemic behind us, it’s safe to say that remote work has remained a significant part of many people’s lives.

This means that buyers may be less constrained in terms of location, allowing them to consider properties further afield from major urban centres.

Sellers, meanwhile, may need to consider making their properties more appealing to remote workers, such as by offering dedicated home office spaces or easy access to high-speed internet.

Continued importance of real estate agents

Whether you’re buying or selling, enlisting the help of a knowledgeable and experienced real estate agent can help you navigate the complexities of the market, ensure you get the best deal possible, and ease the stress of what can be a complex and emotional process.

Want to talk to someone? Find an agent in your area here.

This year could be a great year for buying or selling property in Australia. While there are challenges such as the shortage of housing supply and rising property prices, there are also exciting new technologies and sustainable housing options that are set to transform the industry.

By using a respected agent in your area, staying informed about these trends, and being prepared to act quickly, you can take advantage of the current market and find your dream home or make a profitable sale.