The holidays have seen a huge influx of visitors and ‘no vacancy’ signs everywhere around the coast.
New business’ have commenced in time to take advantage of the first ‘lets get out and about’ Christmas for a few years.
Staffing, product supply issues and higher prices of utilities are being worked around with trimmer business models.
All this has translated to a renewed Buyer confidence and a ‘back to normal property market’, after the roller coaster ride of the last few years.
Most Buyers have factored in the higher lending rates and future increases, paired back spending, and revisited their wants and must haves, to meet affordable housing repayments.
First Home Buyers price range are around $850,000 for houses and $650,000 for units.
The flow on effect from these factors means prices discounted, properties on the market for longer and more stock on the market.
We are seeing more ‘contract crashed’ and ‘passed in’ Auctions.
Cashed up downsizers are the winners here, with cash in the bank and no finance, they have the upper hand.
Note: PropTrack reported over the last 12 months coast prices fell third fastest across the regions from their peak at 5.1% BUT the market is still up 54.7% on pre pandemic levels.
