Despite lockdowns and the pandemic, we’re still in a seller’s market – prices are rising, competition for properties remains strong and finance is very cheap. When will conditions swing to the buyer’s favour? This month, we take a look at why there’s a growing sense of urgency for sellers, before Australia’s rapid price growth comes to an end.
In Sydney and Melbourne, lockdowns are slowly easing; this means more for sale and better buying opportunities. Although other cities have not been locked down, Delta has appeared to have made some impact on seller activity. Meanwhile, buyer activity continues to strengthen. We take a look at what’s happening in each capital city around Australia and discuss what the outlook is for the rest of the year.
Since the start of this century, inner urban living has been far more popular than the outer suburbs, as evidenced by stronger price increases over this time. COVID-19 has turned this on its head and we have been seeing a suburban renaissance, driven by people searching for more space and freed up from being close to CBDs. Will this continue in a post-pandemic world?
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