Navigating the Property Market in 2023.

In this monthly Rundown, we will provide an overview of our recent developments, including market updates, sponsorship announcements, hiring opportunities, and regulatory updates.

Consistent Listings and Steady Open Home Numbers

The agency is making significant strides as we move into the autumn season. We have seen consistent listings and buyer number. Both of which are positive indicators in the marketplace. Property is still delivering results despite fixed interest terms coming to an end. DibChidiac has sold over $40M in residential real estate this year, connecting buyers and sellers. Additionally, open home numbers are also steady, with 1437 sales leads coming through in the month of February, a positive indicator that our database buyers are active.

Navigating Land Tax

Navigating land tax in 2023 can be a confronting task for property owners. However, we are happy to offer guidance and support through our article titled "Navigating your land tax in 2023." We understand the complexities of land tax regulations and aim to help property owners make informed decisions. Click here to read more.

International students add pressure to the rental market

Regulations around universities and the return of foreign students are adding demand for rentals in Sydney. This influx of students is likely to exacerbate the already existing rental shortages, potentially leading to a minimum of a 5% rise in rents. As a result, there may be increased pressure on potential tenants to secure housing quickly.

Heading towards market recovery

Increase in buyer activity at open homes in 2023 is an indicator that we are heading towards market recovery. Buyer hesitancy is diluting and buyers are feeling more confident in transacting in the current market before we see predicted price rises in 2024. With interest rates increasing incrementally, active buyers can forecast and factor this into their calculations. Property supply is low driving competition and property towards recovery.

Sponsorships with Local Sports Clubs

The increase in buyer activity at open homes in 2023 is a positive indicator that the market is moving towards recovery. Buyers who were hesitant before are now feeling more confident in transacting in the current market before predicted rises in 2024. As interest rates are gradually increasing, active buyers are able to forecast and factor this into their calculations. Additionally, the low supply of properties is driving competition, which is contributing to the recovery of the property market.

Celebrating International Women's Day – 8th March 2023

International Women's Day is an important day for us at DibChidiac Real Estate. We are proud that 80% of our leadership team are women. We recognize the importance of gender diversity and are committed to creating a workplace that values and empowers all people equally.