A Strong Start to the Year | January 2023 Market Update

Happy New Year and welcome to 2023!

The year has got off to a quick start with the first month flying on by. Our office has been a hive of activity in both the sales and property management sides.

On the selling side we have seen our buyer activity dramatically increase compared to what we saw prior to Christmas. More enquiries and more buyers attending open houses is extremely positive and signifies that buyers are showing confidence and have a healthy appetite to buy in 2023 after putting it off last year.

Our property management team has been extremely busy as well with a high demand for rental properties ensuring that they have been busy listing and leasing properties since returning to the office on the 3rd January.

Looking ahead, I expect the market to be relatively stable despite further interest rate rises, as I believe most of the pain has already been felt in the market. To use an analogy – if the market were a clock, where the peak is 12 o’clock and the low is 6 o’clock, I believe we are currently at 5:30/6 o’clock, and evidence so far this month has shown that there is plenty of buying and selling appetite out there.

We are also excited to be involved again with the ‘Love Lanes Festival’. The fantastic free community event is coming to Wyong on Saturday 11th February, a great afternoon and evening with food music and entertainment throughout the street of Wyong. Click the link for more details https://www.lovecentralcoast.com/lovelanes

If you require any assistance at all, me and our team at Coastwide First National would be happy to assist

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