Increasing Buyer Activity
- Despite the challenges faced by first-time homebuyers, there are signs of increasing interest among individuals looking to make their initial foray into the property market.
- Although the number of first-home buyers actively searching for properties remains lower than it was a year ago, it has been steadily rising over the past four months.
- The difficult conditions in the rental market may be contributing to this trend. The current scarcity of rental properties and the steep rise in rental costs are likely factors propelling the increase in prospective first-time homebuyers.
- However, with property prices consistently climbing and an impending cost-of-living crisis making it progressively difficult to save for a deposit and meet loan criteria, it is probable that first-time homebuyers will increasingly find themselves compelled to compromise on their preferred locations and property sizes.
- Considering the favourable conditions in the rental market for residential rental providers, investors are actively acquiring properties.
- This presents an opportune period for selling. If you need advice on selling or simply wish to ascertain the current market value of your property, I am more than happy to provide a free, no-obligation appraisal. Feel free to give me a call at 0480 101 966.
