A Quarter of Concord’s Market is in Our Hands.

A quarter of Concord’s market is in our hands

We’re ending winter with heartwarming results this month, retaining our number one spot as the highest performing agency in Concord. Our 25% market share in the suburb we love isn’t a result of luck - we work tirelessly for it, and for you, our valued community who continue to entrust us with your property goals. Thank you for your support.

Dib Chidiac has tipped over 125+ sales so far this calendar year, and entering a traditionally blooming spring season is set to soar this figure even further. 

Over August we achieved fine results, selling more than 24 homes, including 2 before their auction day arrived. These results demonstrate our reality that there are still plenty of people looking to buy. We connected with over 1,000 individuals this month at our open homes, all still searching for the home that sparks something special in them. 

And while we know the broader market is temperamental at the moment, Sydney’s premium postcodes, including the Inner West, are resisting the real estate downturn as buyers continue to compete for unique family homes amidst a shortage of supply, with enduring sentiments that real estate is indeed a smart and resilient long-term investment.

When considering the state of rentals, this month has seen a much needed supply increase with more homes available to potential tenants, alleviating the pricing pressure that has built up over previous months. The astounding extent of this year’s rental movements are in, with CoreLogic recording more than half of all unit markets nationwide and a third of houses currently achieving high enough rental yields to generate a positive cash flow for their landlords.

We’re always growing, and seeking the finest talent in the industry to build excellence with us, and we want to hear from you. Confidentially enquire today about our newly available roles as Receptionist, Executive Assistant and Property Manager at DibChidiac.

Median movements are still minimal

National home values rose an exponential 28.6% during the pandemic, but they have now only shed 2% since peaking in April.

Households are still spending

So far, household spending has proved resilient despite the cost of living pressures. The Australian Bureau of Statistics has recorded a 5.5% increase on retail consumption volumes over the year.

Investors back in the game

Residential property investors are moving to secure rental apartments and houses according to the latest borrowing data. Investor lending increased in July to 28%, the highest since late 2019 when property markets were in a state of strong recovery.

The big picture on house prices

House prices have increased consistently over each of the past four decades, despite numerous domestic and international economic shocks such as the

1987 stock market crash and the GFC.

August clearance rates and listings up

In the final week of August, auction clearance rates rose nationally for the third week in a row, as sellers level their expectations and more buyers emerge. 

Listings also rose 9% over the previous week, signaling a strong spring selling season ahead.

The economic forecast ahead

An updated ANZ forecast predicts Sydney prices will fall by a further 6% next year, for a total 20% drop peak-to-trough, before likely rising by 6% in 2024 as interest rates start to decline again.