Rising prices: Due to low inventory and strong demand, home prices have been on the rise in many NSW areas (Sydney recorded a 1.7% rise in values in June 2023, following a 1.2% increase in May). Real Estate Institute of NSW says house prices continue to climb despite high-interest rates, but It's essential to consider the market conditions when making a decision.

Rental crisis: Rental pressures across Sydney continues. An increase in immigration to Sydney, a decline in rental listing (minus almost 20% over the past year), and increased interest rates cause rental prices to go up.

Increase in remote work: The COVID-19 pandemic has caused many companies to shift to remote work. This has resulted in more people looking for homes outside of urban areas, where they can enjoy a better work-life balance.

Increase in demand for larger homes: With more people working from home, there has been a significant surge in the demand for larger homes with dedicated office spaces. Having a comfortable and functional workspace has become a top priority for many.

Dip in demand for luxury markets: Some luxury markets have experienced a slight dip in demand, as people are currently looking for more affordable options. However, this can also present an opportunity for those seeking luxurious properties at a potentially better value.

Mortgage approval challenges: Borrowing capacity for many investors has decreased due to increased mortgage interest. Therefore, it's important to explore different options and consult with professionals.
The house & land package option might be worth exploring. With a minimal $1000 deposit, you can secure a property at the current market price, with settlement occurring one or two years later. This option allows you to benefit from the forecasted easier economic situation.

Don't miss out on the opportunity to get expert advice tailored to your unique circumstances. Schedule a consultation today and let us help you make an informed decision in this dynamic market!