With only eight weeks to go until Christmas, the summer break is fast approaching. Time is running out to buy a property this year.
While speculation is rife as to where interest rates will land up in 2024, the market has been strong this Spring selling-season, and we’re seeing signs it will remain strong next year, with prices likely to continue to rise. Particularly at the upper-end of the market.
Sellers, though, are looking to do deals in 2023 for all sorts of reasons. For example, investors looking to sell their property don’t want to pay a full year’s land tax if their ownership rolls over to 2024 without any kind of concessions from prospective buyers. There’s the psychological desire to wrap things up before Christmas and know what the new year will bring. And of course, they want to take advantage of relatively low levels of properties on the market, and high buyer-demand.
It’s been a busy time at Cohen Handler. We’re excited to have recently launched CH Secure, a division of Cohen Handler that has a laser-focus on securing investment properties around Australia valued between $200k to $700k. This part of the market is presenting solid investment opportunities as people look for new and more affordable places to live outside of the capital cities.
We have also opened a new office in Adelaide, helmed by Catherine Norris. Adelaide is a fascinating property market with quality homes, and huge amounts of investment in the city that means property values should continue to rise. Get in touch with Catherine to discuss your home or investment needs in Adelaide.
People always ask me, “is now a good time to buy?”
There’s no better time to buy your first, or next, property than when you can afford it. After 20 years in real estate, I’ve realised it’s a fool’s errand to try to time the market.
The team are always available, regardless of the time of year, to help clients, so let our team know your brief and we’ll work to find you the right property at the right price.
Simon Cohen
Founder and CEO
Cohen Handler