Introduction
Sydney’s eastern suburb real estate markets, incorporating Bondi Junction, Bondi, Bronte, Clovelly, Coogee, Maroubra, have experienced a significant upswing in recent years. With ongoing increases in interest rates, the outlook for the sector is becoming highly uncertain. The RBAs blunt force trauma to the economy directly affects all participants in the market. Our view is that if you are finding your property investment marginal or if your mortgage payments are becoming a significant concern now is an opportune time to consider selling in this highly sought-after region. This article delves into the reasons why now you should consider selling property in Sydney’s eastern suburbs. The following article outlines the potential benefits and opportunities that await.
Strong Market Demand
One of the primary drivers for divesting property in Sydney’s eastern suburbs is the robust demand. Not only dos this region boast a reputation for its desirable lifestyle, excellent amenities, proximity to beaches, and a plethora of high-quality schools, the lack of stock currently on the market is a huge influence. The strong demand is currently translating into a larger pool of potential buyers, and when carefully handled higher sale prices.
Rising Property Values
Over the past decade, Sydney’s property market has experienced remarkable growth, and eastern suburbs such as Bondi Junction, Bondi, Bronte, Clovelly, Coogee and Maroubra have been at the forefront of this upward trajectory. Property values in this region have soared, consistently outperforming other areas. Short term market conditions suggest that this trend is set to continue, offering property owners the potential to capitalise on their investment and achieve substantial returns by selling now.
Low Supply and High Competition
One of the key factors currently contributing to the ideal selling conditions is the relatively low supply of available properties in Sydney’s eastern suburbs. With a limited number of homes on the market, if you are selling you will benefit from increased competition. A carefully crafted sales campaign will ensure in multiple offers and bidding wars, driving up the sale price.
Low Interest Rates
The short term low-interest-rate environment is yet another incentive for homeowners considering selling their property. Lower interest rates make borrowing more affordable for potential buyers, stimulating demand, however we do not anticipate such conditions in the medium term. By capitalising on the current financing conditions, you will be sourcing purchasers who can lock in on the current financing environment. Such conditions allow borrowers to access more capital to purchase.
Faster Sales
In a market with lower interest rates, the increased buyer demand can accelerate the speed at which properties are sold. Multiple interested buyers competing for the same property often leads to faster sales and reduced time on the market. By taking advantage of the current conditions and selling your property before interest rates rise further, you increase the likelihood of a quicker sale, minimising the time, and costs associated with a lengthier selling process.
Mitigating Market Uncertainty
The real estate market is sensitive to economic fluctuations and market uncertainties. As interest rates rise, there can be a degree of unpredictability in the market, which can impact property values. By selling your property before interest rates increase further, you can take advantage of the current stability and avoid potential future market fluctuations that may impact property prices negatively.
Investing Opportunities
Selling your property before interest rates rise significantly can provide you with additional capital to explore new investment opportunities. With the proceeds from the sale, you can consider diversifying your investment portfolio, exploring other real estate investments, or investing in other assets that may provide higher returns. By capitalising on the current market conditions, you can leverage your property’s value to potentially generate more wealth in the future.
Conclusion
Selling property in Sydney’s eastern suburbs at this juncture presents an exceptional opportunity. Strong market demand, rising property values, low supply, and high competition, coupled with low-interest rates, faster sales, and reduced market uncertainty. Additionally, selling at the right time allows you to unlock capital that can be utilised for other investment opportunities. If you are considering selling now is the time.
Contact Wills Property on 0467443838 to discuss your sale or email john@willsproperty.com.au
to privately discuss your requirements.
