A message from Bill
I have recently had a number of calls, to give my overview of the real estate market in the current climate.
- The biggest issue we are experiencing is the uncertainty as to which direction this real estate marketplace in terms of buying and selling is heading.
- An important aspect to consider in real estate in the Eastern Suburbs, is the availability of properties for sale has dropped by 45% over the past 18months. I believe this will continue at this level, which in my opinion will hold the seller’s value. There’s no doubt there will probably be a softening, but the reported media expectations of 20% I don’t believe will occur in the Eastern Suburbs marketplace.
- I believe the unit market in the 1, 2 and 3 bedrooms between the areas of $1mil - $3mil is still showing resilience and the marketplace of houses between north of $3mil - $6mil continue to show strong results.
- There are still families actively looking to buy homes in the Eastern Suburbs!
- The devaluing of the Australian dollar should make the top end of the Eastern Suburbs property marketplace an attractive purchase for international buyers with Australian residency or expats as the availability of properties at this level are scarce.
I’m available to expand on these issues with you, feel free to call me on 0411 428 354.
Most importantly stay safe and healthy in these unprecedented times.
Disclaimer: This opinion is my personal viewpoint