Darin's Desk

Wow, what a difference six months makes and I feel that Real Estate has been very lucky. Whilst the Reserve Bank notes inflation at a high of 6.1% and they are warning that interest rates are going to go much higher, real estate is still being purchased because of three key reasons:

1. First home buyers have entered the market with incentives kicking in from 1st of July, so properties in the lower to mid-section are seeing some interest in a market that should have little to none. 2. People upgrading, with prices taking a bit of a dip in those areas it allows people to get in and not only buy but lock in prices in these areas. 3. Investors are being clever and decreasing their portfolio hold and repurchasing something cheaper.

What does this mean? We are still going to be seeing sold signs going up! If you’re a buyer, you will have a larger selection of properties to cast your eyes over with some fairly attractive prices. If you’re a seller it means an opportunity to move on before the pain of 5,6 even 7% interest rates become the norm.

Short to medium term we will still see prices decrease, there will still be sales but now more than ever it is important to select a stronger and larger real estate team to help with your real estate needs as we have the experience to guide you to the best outcome, achieving better prices and dealing with more buyers is vital for our sellers in this market.

Medium term (over the next 3-5 years) we expect to see a steadiness in the market place which will then lead to growth. Long term, real estate is a solid investment and is tangible. We know that bricks and mortar are a highly desired commodity by Aussies as a wealth creation vehicle.

Property Management We have seen a big swing in this area. The trend has swung from the very popular area of luxury 4 to 5 bedroom homes being highly sought, to now the market desiring and downsizing to smaller homes for their family. It seems that the higher cost of living is having renters looking to decrease their costs of living as they try to survive this inflation bubble. Certainly, a space to watch in this area.

With so many awesome tenants in our rental system we have now found our yearly Tenant of the Year Award getting harder to judge. The quality of how they are looking after homes both inside and out, the speed of payment, the gratitude shown to our team has really lifted a notch and as finalists are announced we want to congratulate all our tenants who made it onto this list as it’s an amazing achievement. Should you want the best tenants in town that look no further than the Wiseberry Heritage team, give the team a call on (02) 4392 7060.

Team Congratulations once again to our team for making the finals of the Australian Small Business Awards. You can never grow tired of being part of this amazing awards system who highlights that the Wiseberry Heritage Group continues to be a leader in the Real Estate industry and small business community.

If you are thinking of selling or buying, why not work with the team that supports our community? The Wiseberry Heritage Team will not only get you the right results, they will treat you like you are family. They are a trusted team that has been ingrained in the local community and work hard to consistently raise the bar in the industry for not only the results they get but to get the real estate should put back into the community that supports them so well.

Information sourced from 'Darin's Desk' Podcast. Scan to listen to the full episode.