Snapshot Of The Australian Real Estate Market

Look­ing at the real estate mar­ket from the buyer’s point of view is a very

import­ant key to under­stand­ing the market.

I came across a snap­shot of the real estate mar­ket from a buyer’s point of view info graphic the other day and found it quite interesting.

The info graphic shows that first home buy­ers are out in force and are still aspir­ing to buy a house and land even though it is very hard to get a prop­erty under $500,000 not too far from the city. Some buy­ers may need to adjust their expect­a­tions and settle for town­houses and units but the low interest rates have def­in­itely inspired this demo­graphic to jump off the fence there been sit­ting on.

Over 100 groups come through an open home in Blacktown

One of our open homes (we had in Black­town where the medium price is approx­im­ately $450,000 we had over 100 groups come through (that is well over 300 people). It’s funny to see so many people try­ing to cram into one 3 bed­room home. And it is amaz­ing to see people wait­ing in line to make offers on property.

 

Elders real estate Seven Hills home open

We also have many astute investors cur­rently tak­ing advant­age of record low interest rates to add more prop­er­ties to their portfolio.

I do see a lot of build­ers and developers wan­der­ing around but tak­ing a long hard crit­ical look on whether the num­bers line up to improve value on these homes. That said it is still a very act­ive mar­ket and the elec­tion has not slowed down in fact it is sped up.

STRONG res­ults were achieved by our sales team last month!

Some strong res­ults were achieved by our sales team last month,  in some cases heated com­pet­i­tion driv­ing the even­tual selling  prices way over the ini­tial ask­ing prices, most not­ably in the case of 2 Andrews Avenue Toongab­bie where 100 registered buy­ers inspec­ted in the first week­end of mar­ket­ing res­ult­ing in a sale price almost $100,000 over the ask­ing price!

Another open home that had close to 300 groups turn up and who knows the actual num­ber of people. In fact it actu­ally stops traffic and people thought that there was a really big party but actu­ally it was just an open homes. 45 minutes later people still had not inspec­ted the home and just decided to make offers at the door and go to the next of their open homes.

 real estate market form a buyer view

A snapshot of the real estate market from a buyer's point of view.

 

 

A view from an Aus­tralia wide prospective

 

Mr Chron­ican, Chief of ANZ Bank­ing in Aus­tralia said recently “because of state govt. ‘red tape’ around hous­ing construction…there is cur­rently a ‘short­age of 270,000 dwell­ings, which could rise to 370,000 by 2015 and put upward pres­sure on prop­erty prices”.

 

That’s a ser­i­ous under sup­ply. So not only is there massive demand for prop­erty fuelled by factors above. But there’s also a short­age in hous­ing sup­ply.  A per­fect storm for sus­tain­able growth = a great time for prop­erty investors.

 

The storm is brew­ing right in the Aus­tralian prop­erty mar­ket because of;

•          Low interest rates

•          The stead­ily rising share-market

•          Record auc­tion clear­ance rates

•          The soar­ing pop­ular­ity of SMSFs

•          And an influx of Chinese buyers

If you would like to look back on how the mar­ket per­formed in 2011 and how his­tory repeats its self, click here.

If you would like to receive an updated appraisal of your own property’s value we look for­ward to hear­ing, so pick up the phone and call us on 9896 2333.

About 

Jhai is an award win­ning Inter­net Mar­ket­ing Real Estate Agent for Eld­ers Toongab­bie and Kings Langley. After run­ning his own inter­net mar­ket­ing busi­ness he has now set his own sites for the real estate industry. He observed that 90% of real estate agents did not know how to mar­ket them­selves online. Jhai is now fixed on one goal. To teach real estate agents that they can mar­ket online so much bet­ter than they cur­rently are.

Since then he has been con­sist­ently quoted in the Sydney Morn­ing Her­ald and Real Estate Busi­ness online. He is a reg­u­lar guest blog­ger on TheHomePage.com.au, shar­ing his expert­ise of mar­ket­ing aspects for the Real Estate Industry. His biggest pas­sions are his wife, mar­tial arts, dogs and most of all property.

seven hills real estate agent NSW
Cnr Federal Road Prospect Highway Seven Hills NSW 2147 Australia