An Unstoppable Market at the Midpoint of 2023.

Reaching the midpoint of 2023, an eventful year continues to unfold and remind us just how much the demand for homes cannot be contained. Our unstoppable real estate market has made strong waves already this year, and these are the important movements worth knowing:

Interest rates rose, and so did property prices - while the Reserve Bank lifted interest rates to 4.1% over June to a level not seen since early 2012, property prices have yet again shown us their resilience by still recording rises. 

The latest data shows a 1.2% increase over May - the third monthly rise - as buyers and sellers continue to confidently partake in a unique market environment that combines a delicate mix of limited supply and firm competition that is keeping prices well afloat. 

The rental market peaked, and is now adjusting - with a front and center position on the market stage this year, rentals skyrocketed over March and April with soaring prices and demand. 

Most recently, a welcomed increase in rental supply has subdued insatiable demand to a more manageable level, enabling prices starting to slightly cool and adjust.

Low supply is about to grow - and the market’s trajectory backed by data is a reassuring reminder that even with further potential rate rises ahead, now is always a suitable time to buy.

OUR RESULTS

OFF-MARKET SUCCESS

We’ve had significant success with over $25M in off-market sales so far this year, with some standout off-market results worth noting:

• 16/25 Market Street, Breakfast Point sold for $1,747,500.
• 11/30-32 Admiralty Drive, Breakfast Point sold for $2,180,000.
• Lot 2, 26 Station Street, Concord sold for $2,400,000.

We have an ever expanding network of buyers and sellers, and local residents trust us to connect the right buyers with their properties quickly, without the need for a sales campaign. 

With our guidance, there’s no need to delay your selling plans. It is likely we will have a buyer for your home, and can make things happen fast and discreetly.

AGENCY ACCOLADES

We’ve had a lot to celebrate, with a number of agency achievements shining a light on our local area and putting the Inner West on the real estate map this year.

Director Dib Chidiac solidified his success as one of the top-performing agents in the country, obtaining a No.5 ranking in the renowned Real Estate Business (REB) Top 100 Agents, while our agency took out the Local Business Award, a true testament to our commitment to excellence not only in business, but in community. 

ALL ABOUT COMMUNITY

Throughout this year, we’ve been honoured to dedicate our efforts to giving back through collaboration. Our proud partnership with the Concord Giants and Abbotsford Juniors Football Club has been a privilege, with both sporting clubs speaking to the heart of our values in fostering teamwork, leadership and excellence that inspires the next generation within our local community to be their best.

In supporting the Giants and Juniors, we hope that these young athletes see their potential as individuals, and how their role in a team serves as the foundation for future leadership that is boundless and impactful.

We’re also proud to announce that we’ve joined forces with Audi Five Dock. This unique partnership is one defined not only by supporting local business, but also embracing  our shared ethos of delivering quality services that are the complete and personalised lifestyle package.