Professionals Gosford January 22 Property Market Update
Regional markets are seeing renewed momentum in the pace of value growth.
The strongest regional markets have been in New South Wales (29.8%) and Tasmania (29.5%), the most popular regional markets have seen housing
values rise more than 30% over the calendar year.
Although there are some headwinds building for the housing market, we expect national housing values will continue to rise in the short term.
Even if interest rates rise earlier than expected, it is likely to be a gradual process. The cost of debt is likely to remain well below long term averages,
continuing to support housing demand for an extended period of time.
Don’t sell “Off Market”
The major drawback from a seller’s point of view is that the competitive nature of an ‘open market’ sale is unlikely when selling off-market which will impact
on the result compared to listing on the open market. Selling off-market for a good price in a boom is relatively easy, however, in a boom market, the difference between a good price and a great price can be tens of thousands of dollars, if not hundreds of thousands.
Ask an agent for advice
If you want to squeeze every cent out of your property you can, it’s best to arrange for a local agent to have a walk-through of it so they can offer up advice about exactly what they would recommend should or should not be changed.