Alliance Real Estate

With Spring 2020 well underway we are experiencing better than hoped for activity in the local property market. We noticed an increase in new listings in early August. Strong number of buyers in the market saw many properties sell quickly and by mid-October we are starting to see the number of properties for sale start to fall. If this continues, we expect an undersupply of properties leading into Christmas and New Year. We’re also predicting buyer activity will start very early in January 2021 rather than late January as has been the case in the past. The main reason for this is because we’re not expecting many buyers to go on long holidays, meaning they’ll be active in the market a lot sooner. Right now, we’re seeing buyers bring forward their plans to buy. With uncertainty around the general economy many are jumping in now while they are approved rather than waiting in case their financial status changes. Rental properties are making a very strong recovery with numbers of prospective tenants increasing and number of rentals available dropping. This is a positive sign in our area as many other parts of Sydney are having difficulties finding tenants. Rents are mostly holding their value and are only slightly down on pre-Covid times. Overall, the strength of the current local property market is remarkable considering all the challenges we have faced this year. Our view is the market will continue to be resilient and may achieve some growth especially with government grants being forecasted. We wish everyone a safe period ahead as we move towards the end of the year and hope that next year is much brighter and more enjoyable than 2020. We are available at any time to assist you and your family with your property needs now or in the future. WELCOME LIKE TO KNOW WHAT YOUR PROPERTY IS WORTH? Call us today on 9771 6115 for an obligation-free Market Appraisal. Theo Kalinderidis Principal Jenny Fisher Executive Assistant Andrew Prodromou Director Rema Fakhoury Sales Consultant Tony Kalinderidis Sales Manager Dominika Antalfy Sales Consultant Rebecca Hughes Sales Support Haley O’Hara Sales Support