SYDNEY PROPERTY MARKET IN WINTER 2024.
Lets Summarise the Property Market in Winter!.
It can be a great time for property buyers to find a home, during winter there’s slight less competition!. With fewer buyers competing and the chance to see properties in less flattering conditions, you can better assess what you’re buying.
A Quick General Market Update.
The property market remains strong. CoreLogic reports house prices increased in all capital cities except Hobart and Darwin in May. Perth led the way with a 2% rise.
Interest Rate News
The Reserve Bank of Australia (RBA) has kept the cash rate steady at 4.35%. While inflation is easing, it’s not dropping as quickly as expected. The RBA indicates that it may be a while before rates change.
Home Value Movements
National housing values rose by 0.8% in May, marking the 16th consecutive month of growth. Perth saw the highest growth at 2%, followed by Adelaide at 1.8% and Brisbane at 1.4%. Other cities had smaller increases.
NSW had a o.6% increase
Key Statistics
VIC: 0.1% increase
NSW: 0.6% increase
ACT: 0.5% increase
QLD: 1.5% increase
WA: 2.0% increase
NT: 0.3% decrease
TAS: 0.5% decrease
SA: 1.8% increase
If you’re planning to buy this winter, contact us today to start your property search!.
Winter Property Pitfalls: What to Watch Out For!
As an experienced Buyers Agent, At Barsalli Buyers Agency we use the winter period to identify potential issues when buying property in the Eastern Suburbs, Sydney. We know the ocean breeze is tough to handle, you need a home that can successfully combat the cold.
Here are some common pitfalls to be aware of:
A) Poor Insulation
Issue: Inadequate insulation can lead to significant heat loss and high repair costs.
B) Poor Heating System
Issue: Many buyers overlook the importance of an effective heating system, especially in summer.
C) Mould and Water Damage
Issue: Winter often brings damp and mould, which can damage your property.
Our Solution:
We inspect for mould and water damage to prevent future problems, thoroughly check the heating system to ensure it’s efficient and reliable. At Barsalli Buyers Agency we also check if there needs to be any sort of repairs. We are sure to let you know what that may mean for you.
We assess so you don’t have to.
Winter is an excellent time to see a property at its most troubled self, helping you make a more informed decision.
Trust Barsalli Buyers Agency to uncover these issues and protect your investment/home.
Phone
+61 411 167 746
email address
rhoda@barsallibuyersagency.com
