One Quarter Down.

The first quarter for 2022 is complete. We’d undoubtedly stepped into a year of promising performance for the real estate market, from its very first day bringing huge potential and bouncing momentum trailblazed by a previous 12 months of peak results. 

As Sydney finished up the second strongest performing Australian housing market in 2021, many locations experienced 24+%  house price growth, and this quarter has not disappointed.

Since January, we’ve observed and experienced:

Increased prior to auction sales - as buyer confidence enables them to act.  On the auction floor, buyer activity has been more calculated and careful, as fear of missing out has officially left the market. 

Greater stock  – we’ve seen supply shift from very low amounts just six months ago, offering buyers far more general choice today. The traditional family home still remains far and few between though, a rarer commodity to find and secure. 

Increased buyer demand - prudent decision making does not mean less competition, and buyer demand has increased by 9% according to Domain, with Sydney’s auction clearance rate still also holding firm. 

The fact remains, despite higher supply figures, there are still not enough good properties available to adequately meet the level of demand for Sydney houses, particularly in areas like the inner west.

Our advice for those looking to buy? Sell first. Something we may not have recommended last year.

Market insights, what we know

There have been momentous gains since 2019, and many have come close to doubling their home values. During the previous property growth cycle between early 2012 and mid-2017, Sydney experienced a 75% increase. During the current cycle, median house prices in pockets of Sydney have risen 90.3% according to CoreLogic, the speed and value of which is both impressive, and unheard of. 

Market predictions, what to expect
Our market trajectory indicates that by the end of 2022, it’s likely home values will be 7% higher than January figures. With Sydney values up 18.2% over the last 12 months alone, we know there is still plenty of growth left, however our property market is showing some signs of slowing price growth, particularly as buyer’s are presented with more choice.

Achieving better results
We’ve loved every moment of these standout sales. Please visit our website to take a closer look at this quarter’s finest accomplishments https://dibchidiac.com.au/sold-properties 

A pandemic well behind us
It’s fair to say the turbulence of 2020 and 2021 are well behind us. The conditions and obstacles faced are no longer, and all that's left of the pandemic endured is the revolutisation of how we buy and sell property. 

We’ve embraced the instant innovation of online auctions, valuing the convenience and effectiveness of this hybrid of onsite and virtual bidding environments.
We’ve connected stronger than ever with our network of buyers, building lifelong relationships that will help navigate them through every property journey.

Property management, strong and steady

The Sydney rental market is having its moment. Inspection attendance levels are higher than ever, and the demand for rentals is strong, pushing rents upward at the fastest pace since the GFC almost 15 years ago.  

SQM Research recently documented vacancy rates at 16 year lows, with Sydney’s 2% vacancy rate in February 2022. The trend is nationwide, with capital city rents increasing by 9.4% over the year to February, forecasted to surpass 10% this year.
 

Excellence as standard, built into everything we do

We start with excellence from the top. Dib Chidiac is proud to share his third placement in the NSW REINSW Awards for Excellence this year, an independent award which recognises real estate’s highest performers.

High performance is entrenched in our culture, with each and every one of our employees raising the standard of how we deliver real estate services to our community. 

Excellence by your side, creating better futures
We’re always opening the doors of opportunity to those who demonstrate excellence. 

Our handpicked team of thriving individuals is growing, and if you think your skills and values are aligned with our work philosophy, we’d love to hear from you.

• Position 1: Sales Agent
• Position 2: Marketing Executive
• Position 3: Business Development Manager

Happy Easter from DibChidiac

We want to extend our gratitude for your continued support and trust in us, in what has already been an incredible start to 2022. Thank you for considering us to look after your property needs. We value our relationships, and welcome you to connect with us anytime for advice or assistance no matter where you’re at in your property journey.

A joyful and relaxing Easter break awaits all of us. Make every moment count.