markets globally in terms of house price increases this year. Sydney property prices rose the most among all major Australian cities. The average house in Sydney is now selling for $1.29 million, which on average is $150,000 more expensive than it was in January this year!

Property is earning more money this year than most Australians earn in salaries. This is the perfect time for investment in real estate.

High demand - Low Stock

In 2021 the market is in shock: demand is at an all-time high and is outstripping stock massively - scarcity is the major sales and price rise driver right now.

The competition among buyers is tremendous. High demand means not only a higher selling price, but a shorter number of days your listings will be online. It is very much a sellers’ market right now.

Moreover, large-scale migration to the suburbs has meant that every day Australians are seeing the value of their homes jumping considerably.

Top-5 cities in Australia with fast-rising house prices:

• Sydney

• Canberra

• Hobart

• Melbourne

• Perth

Sydney is one of the most confident areas in Australia during lockdown: strong selling conditions are predicted to last the whole spring and into 2022 summer.  

With the nationwide vaccination roll-out getting close to the 70% target, it is commonly accepted that the anticipated easing of restrictions will add to the housing boom. In certain regions home inspections are forbidden and the market is eagerly waiting for the lockdown to get back to looking for property to buy.. 

Low loan interest rates and Government incentives

The ultra-low interest rates are another driving factor: allowing more people than ever to apply for home loans. Combined with the first home buyers grant which can give you up to $10,000 towards the price of a first home, plus reductions in Stamp duty for FHB, have all contributed to a perfect storm of purchasing activity. 

To give you an understanding of the demand,experts calculated that this year there are almost 40% more new loans. 40% more people are ready and willing to buy property.

Keep in mind also that The Reserve Bank of Australia has stated interest rates will remain low in the next few years. Another great motivator to prospective buyers.

Demand will increase when the borders open

Australia, as a nation, depends on high levels of inward migration to fill jobs. With Covid restrictions locking down the borders, this influx of workers has dried up over the last 2 years. Even so, the demand for housing has outstripped supply by a huge amount.

When the borders re-open it will mean a large influx of workers requiring additional accommodation. Increased demand means increased prices.

Local Real Estate experts can help

Investment is a smart, strategic, and profit-oriented decision. Considering the current situation, the real estate market is very tempting, but it also means high risks. 

To be ahead of all legislation and market changes in your area, hire a trusted real estate agent who is a local expert. Every state and suburb, even every street has its own nuances. Your agent must know all of them and make sure you get the best deal possible. 

An agent, on average, can sell a property for a higher price and faster than an owner can, going it alone. 

With a rising market, a good agent can ensure you sell fast and for the best price.

An award-winning agent definitely can help more.