After two years of strong price growth the question many people are asking is, will the property market slow and what will happen to prices?
The changing economy is giving many of us pause for thought, however demand for houses remains strong. We are seeing more properties come to the market which is helping to meet demand but demand is still outstripping supply.
Interestingly, the changing face of employment will have an ongoing impact on the housing market. Employment is currently at a high level with candidates for job vacancies in short supply. Further, employees are now looking for higher wages to counteract the cost of living along with work from home flexibility for a better work/life balance.
It’s extremely likely that COVID has changed the face of employment forever. Indeed, we are still seeing buyers ‘escape to the country’ and upsizing in the process. Meanwhile, downsizers are continuing to capitalise on the strong market by trading their larger homes for smaller properties, often closer to family or by the coast.
As we continue to adapt our lifestyles, demand will continue for homes that meet our changing requirements.
So, while I anticipate the market will calm from the frenetic activity over the last two years, prices and volume of sales will likely remain strong with a continued, yet more modest rise in prices.
To discuss the sale of your home, feel free to call me anytime.
Kai Carter Estates