WHITSUNDAY E-NEWS REAL ESTATE: 1st week of June
Published on: Jun 8, 2021
https://youtu.be/7r9aft2e6LI
Hi, Annette Neil from PRD Whitsunday with this week's e-update.
I'm down here at 48 Abell Road, Cannonvale, at a new listing that John Harris of our office has just brought to the market.
Family homes in Cannonvale are in huge demand, particularly when you see what’s over my shoulder. This one enjoys a beautiful outlook over the lake and then the beautiful parklands beyond, making it an absolute winner for families.
I keep getting asked quite a few questions at the moment from people: One is "What's the market doing?" and the other one is "As a buyer, is now the right time to buy?", "Am I overpaying, seeing this huge price jump in the first part of this year?",
So, what's the market doing?
It's as busy as ever from all facets. We see sales, notably houses like this one that I'm at, selling extremely quickly as they come go market.
There are multiple offers quite often, and they're off and done within about a week.
For rental: still really nothing on the market. We're sitting at zero per cent vacancy with multiple applicants. However, as soon as a property becomes available, even commercial, we're seeing that there's quite a lot more inquiry coming through, even from people wanting commercial tenancies to start a potentially new business.
Accom Whitsunday is still very busy, a little bit down due to the Melbourne lockdown as this has caused a slowdown in bookings as people are just assessing what's going to happen before they go ahead.
For buyers, is now the right time to buy?
That's the golden question for everybody. If we knew that it was, we'd all be property tycoons and millionaires, but unfortunately, it is a little bit of an unknown with the world's situation.
How is the economy doing in Australia? If we go back a year to the beginning of Covid19, economists were tipping at least 30 per cent reductions in property values. Here we are 12 months later, and some areas are 30%+ increases in value.
Properties have gone up. It depends on your situation and whether now is the right time to buy.
If you are selling in this market and buying in the same market, then yes, it couldn't be a better time as it doesn't matter what the market's doing because you are selling and buying in the same market.
If you're a first home buyer trying to get into the market, there are grants available. Interest rates are the cheapest they have ever been, so although you may be paying a little more to get the market, finance is cheap.
Give us a call, and we'll provide you with some advice that suits your situation.
