Well 2023 has been an eventful year with numerous ups and downs to contend with. As we approach the year end, the market has certainly gained momentum after a sluggish first half of the year and 2024 looks as if it will continue that more active theme. There are still some headwinds to navigate – high cost of money, cost of living pressures and a potential rise in unemployment – however there is definitely willingness to transact across all sectors of the market. If you’re looking for an upsize or downsize from your current family home, a good selection of properties should be coming to the market end of Jan into Feb/Mar. The tight supply of these over recent months should be addressed then and given our high immigration numbers recently (English, Chinese, Indian), there will be good demand. This will oil the wheels of the market such that your new property is easier to find.
If looking for a move in the new year we would love to work with you! If you have an investment property you acquired in 2018/2019 that you’re looking to divest in 2024 (as the 5 year bright-line threshold is reached such that you can book the gains from 2020/2021) then be sure to also contact us. There is still a solid chunk of 1st home buyers looking to get into the market and hence your investment property could be just what they’re after.
Finally, many thanks to all our clients for entrusting us with your marketing, allowing us to follow our processes and giving us the satisfaction of another great year in real estate. We look forward to working with more wonderful loyal clients in 2024 and meeting new ones to put on our books!