WHAT’S HAPPENING IN OUR MARKET? Economists, politicians, real estate experts and even the local barista love to comment on the state of the real estate market, what was and what could be. Truth be told, there are so many factors that could influence where we may be heading, and history only tells us where we have been. The last 3 years has seen unprecedented growth in house prices, with interest rates and changes in lending criteria and government policies. 2020 and 2021 saw property prices in our area grow in excess of 40% on average, which now seems so long ago as people try to understand the slight change we’ve had in 2022. With interest rates rising and so much negativity in the media of late, it’s nice to know that the market isn’t as bad as predicted, and rest assured the Northern Districts and Upper North Shore have not seen the correction that the media talk about as a whole. Sydney has an 80 km radius, and can’t be put into one category. Averaging out, the past 3 years has still seen growth at more than double expectation and normality. If you’re considering a move, buying and selling in the same market is important. No one rings a bell at the top or bottom of a market, so if the time is right, the time is right. Give the largest team in the region a call, should you be looking to buy, sell or lease a property, so you know you’re being taken care of correctly. Nathan Leuzzi & Dion Verzeletti Directors & Principals, LREA
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