2023 is shaping up to be an exciting year with plenty to offer our clients across every stage of their real estate journey. I believe this year is the time to take action, leverage the momentum in the market and make your property goals a reality.
It’s well documented that 2022 was a challenging year, with COVID, the increasing cost of living and all sorts of political and international events going on. With the property market constantly adapting to these factors, buyers and sellers have been understandably nervous, often waiting to see what the market will do. Nevertheless, we’ve been through it, learnt from it and now we’re beginning to see the market find its feet again.
The reality is that we simply got comfortable with world record low interest rates, but a more stable market is far more beneficial for both buyer and seller. And although some market commentators are predicting yet another interest rate rise, I’m confident we’re nearing the full extent of those rises and 2023 is likely to be a far more normal and predictable market. Especially here on the Lower North Shore where although not immune to general market sentiments, the area has always bounced back a lot quicker than most.
When clients ask me “how’s the market?” my answer is always, “what is it you’re looking to do?”. The response is different depending on whether you are wanting to buy, sell, invest or lease. For example, when interest rates are up and the market slows for sellers, an investor may see increased dividends as vacancy rates decrease. Ultimately though the circle of life is really what drives the property market. So, everything that happens in people’s lives, births, death, marriages, is what gives them motivation to either sell or buy.
With the New Year upon us and a stabilizing market it really is time to take action and create your property wish list. Interestingly, unlike other parts of New South Wales or even Australia, the properties across the Lower North Shore offer a variety of unique architecture, views, size, age and condition which means you legitimately can’t just wait for the ‘next’ one to become available. If you’ve got the money, you’ve got the approval, and the property ticks all your boxes for location, style and more, take confidence that now is the time to make your move!
Here at Ray White Lower North Shore we have successfully navigated the ups and downs of the property market for over 25 years, and I personally began my real estate journey during the Global Financial Crisis. We are no stranger to the challenges that arise as the market adjusts and finds its new normal. We have a depth of market exposure second to none in Sydney, which includes several divisions including Loan Market (mortgage broker), Sales, Property Management, Urban Living (Strata Specialists), Projects & Developments and Retail & Commercial. And when times are tough, we will work to meet your property goals using a tailored strategy. With this knowledge, experience, and tenacity on your side, we’re looking forward to working with you to make your goals a reality in 2023.
As was said in last month’s newsletter, 2023 is really the year where choosing an agent with the right experience is necessary for making the right move. 2023 is the right time. What are you waiting for?
Reach out to David to discuss the market and how we can help you choose the right time to sell your property:
David Gillan, Director
Ray White Lower North Shore Group
0411 255 914
david.gillan@raywhite.com
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