Winter Outlook for Property Market

According to some leading property analysts across the nation, and indeed many agents experiencing a surge in enquiry as the COVID-19 restrictions ease; this winter could prove a more active market than anticipated.

The spring season is normally the most popular time to sell homes, with the weather warming and gardens in full bloom; however, confidence is starting to trickle back into the market, as many are now seeing some light at the end of the COVID tunnel.

Neida Consibee, chief economist at said the fallout of the COVID-19 pandemic lockdowns and economic crunch had caused a short supply of stock, but more people were keeping a keen eye on the market and searching online for properties.

The latest data on the volume of searches for properties for sale on shows search activity hit a new record last week; rising by 0.5%, now up 37.7% year-on-year and is 62.6% higher than the low in March.  This is the ninth consecutive week the rate has grown.

Ms Consibee said renewed interest was indicative of the early stages of a recovery; but warned some parts of the market would take longer to recover than others.

“If you have a look at a house in a nice area that’s got good amenity, that’s probably going to hold up OK, whereas if you go to high development areas, particularly those located close to universities that may rely on foreign students or rely on investors, these are areas that may struggle,” she said.

“We are seeing a big surge in first home buyer activity, but investor activity hasn’t returned strongly at this stage…that may take longer.”

Get In Contact Today

Read Our Latest Insights

Buyers Due Diligence

When you’ve made the decision to purchase a property, there’s a variety of factors that will influence your ultimate choice, including importantly price and location;

Read More

EOFY – What Lies Ahead

What does the onset of a new financial year mean for you? From July 1 new legislation came into effect that will impact on the

Read More

The DO’s of Downsizing!

Are you an empty nester? Have the children left home, and most likely not coming back permanently – if so, well done, now it’s your

Read More

See Our Current Property Listings

Request an Honest Appraisal

Whether you’re looking to sell, rent or buy, Wright Place Real Estate are here to help! Put in an enquiry today and one of our friendly agents will contact you shortly!