End of Year Report - 2019

OUR FIRST YEAR OF SUCCESS

Reflecting on the first year of DIB CHIDIAC, we can encapsulate the last 12 months in three words: growth, results, and success. The resurgence of the market, record lows in interest rates and auction clearance rates peaking at 80% has brought a wave of energy to the market, that has rippled throughout buyers and sellers alike in 2019. We may be a small business, but we are committed only to the biggest results. We hit 105 sales ($165m dollar value) since opening our doors this year, selling the best in the inner west, from luxury waterfront homes, to easy living one bedroom apartments.

We’ve acted as trustee for the successful administration and transaction of property in trust, guided families - some who have owned their properties for over 100 years - through their market journey, supported first home buyers seal their first deal, assisted investors, and high profile clients. We’ve reached record prices that have been reported by the media, achieved the highest sale - and worked just as hard for median price points too - maintaining suburb records in Cabarita and Mortlake, and of course, making history by exceeding suburb records, twice this year in Concord West and Rhodes. We’ve managed to make all these milestones a reality, all while growing our work family to a promising team of ten exceptional, hand-picked professionals who we are honoured to call an integral part of DIB CHIDIAC. Our work family is not the only one growing, as my wife Stephanie and I also welcomed our first child on 29 November, a sweet little boy who has stolen our hearts.

WHAT’S AHEAD? A FORECAST ON THE NEXT 12 MONTHS

We expect 2020 to be even bigger and better. If the peak sales and prices seen in the last quarter of 2019 are any indication of the new year ahead, we know that the lead into 2020 will be an optimal time to ride the wave of momentum and sell to the sea of potential buyers still prepared and waiting to land on the right property.

MARKET & THE ECONOMY

We anticipate a shortage of supply early in the year, which could evolve as the economy changes. Overall, the property market has undeniably outrun the economic landscape of this year. National accounts for the September quarter showed an annual growth rate of 1.7%, which is fairly weak given most economists were hoping that significant stimulus from tax and interest rate cuts this year would have an immediate and noticeable impact to other facets such as spending, inflation and unemployment rates.

DIB CHIDIAC 2020

Our new year’s resolution is diversity. As a business, we have ambitious plans to expand our services to all aspects of property transactions and processes, and look forward to sharing more details with you on our evolving skills and flourishing team. We will continue to keep our valued network of clients and communities informed and connected on every step of our journey, through our online mediums. Until then, we would always love to hear from you. Whether it is for property advice, suggestions, feedback or a word of encouragement – our door is always open. We wish you a joyful Christmas and holiday period with your loved ones.

PROPERTY MANAGEMENT

We are not just a sales based office, we invest a lot of our expertise into property management too. On the property management front, we transitioned to a top tier system this year, which will help us to consistently deliver robust, efficient and effective services to owners and tenants across all properties, from entry level to high end.

Our expert Property Manager Nicole Labra brings almost a decade’s wealth of experience and passion to the table, as a local who understands the inner west first-hand. We feel great pride in taking on challenges such as managements that others have been unable to successfully lease, and know that our services are personalised, specialised and refined to the highest quality available.