A Normalising Market for 2024? January 2024 Market Update

Welcome to 2024! The first month has flown by and with the holiday period now coming to an end we are excited to see what this year brings moving forward. As always, there is a lot of commentary in the media around the real estate market, inflation, cost of living pressures as well as what will happen with interest rates. This has the experts divided with some predicting a rise in property prices and others predicting a fall. From our side of things we feel that the market is normalising for the first time in years and we aren’t expecting any dramatic changes to property prices in the coming months. A continued shortage of available property on the market along with some reasonable buyer demand has meant that sales are ticking over nicely. On the property management side of things, rental demand remains strong. We have seen plenty of tenants on the move over the past few months however vacancies remain low with most properties being leased within 22 days of being advertised.

Curious to start the new year with an update on the value of your property? Our team is here to assist and we are happy to offer you an updated sales or rental market appraisal at any time. 

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