What isn’t happening!?
Everyone I talk to is in an unprecedented position.
Never before have they been so short staffed, have costs been so high and have time frames to deliver been so long.
In fact most buying conversations centre around the ‘how long’ not the ‘how much’. This is truly an inflationary environment where the value of goods is increasing rapidly (1Q22 a whopping 5.1% headline inflation rate!).
It is this rate that the Reserve Bank desperately wants to put a lid on using the only significant tool they have – interest rates.
Yet still against this backdrop the local real estate market powers on.
Investors are making a difference, buying actively in segments of the market that have been asleep for many years.
This week I met a Buyer who worked in ‘software’. That Buyer told me they had just purchased 7 older style apartments close to the city centre! At approximately $170,000 each and likely to rent over $250 per week. At current rates and rents the Buyer will be in front each week.You can see the logic.
If you have been sitting on an apartment or villa, it may finally be time to move it on, as the investors become more active.
Feel free to get in touch on, 0417 99 23 24, and we can discuss the market and new opportunities as they arise.
– Derek Baston