Angus Raine, Executive Chairman of Raine & Horne, believes the real estate market in Australia presents a unique window of opportunity for homebuyers this autumn.
Mr Angus Raine, Executive Chairman of Raine & Horne, believes the real estate market in Australia presents a unique window of opportunity for homebuyers this autumn.
Moreover, astute buyers have already recognised this opportunity and are actively engaged in the market. An analysis by Raine & Horne found that the number of groups at open for inspections has increased by over 25% compared to early autumn 2023.
According to Mr Raine, the three-week gap bookended by the two public holidays at the beginning and end of April creates a favourable environment for homebuyers looking to secure a suitable property.
“The timing of the public holidays has also coincided with a steady flow of listings into the market,” Mr Raine noted.
“Homeowners are opting to sell buoyed by the improved property returns over the last year, with values up by an average of over 9% nationally and much higher in some states”.
“The steady flow of properties for sale provides choice, making the three week window in April between the public holidays an ideal time to pounce, especially for first-time buyers or families looking to upgrade to their next home.”
Mr Raine added that despite the steady number of listings reaching the market, home prices are expected to continue rising, especially after the Reserve Bank decided at its March meeting to leave the official cash rate on hold.
“The persistent presence of enthusiastic buyers underpins prices, ensuring the market remains competitive and values will continue moving up,” Mr Raine said.
Preparation and swift action will provide autumn buying success
However, preparation is critical for buyers navigating the autumn window of opportunity in the three weeks after Easter. “Buyers need to get prepared and get their skates on to land a suitable property,” Mr Raine said.
“Despite the choice of properties available, buyers must not lose sight of their priorities. Creating a list of must-have features alongside desirable but non-essential ones can help buyers stay focused during property inspections.
“Whether a buyer is seeking a specific street or aspect, block size, or a double garage or rear laneway, having a clear idea of the features you want will assist your decision-making”.
Moreover, being prepared to act swiftly is essential in a dynamic market, according to Craig Betalli, Senior Broker at Our Broker.
For example, obtaining a home loan pre-approval from a lender enables a buyer to establish a budget. “Having a loan preapproved empowers a buyer to make offers confidently and conveniently,” noted Mr Betalli.
“A loan pre-approval also puts you ahead of the buying competition and increases your chances of securing your desired property.”
Mr Betalli added, “Starting the buying process with a pre-approval is crucial. It sets a clear path for understanding your financial limits and guides your search towards suitable localities.
Home loan pre-approval checklist:
Mr Betalli concluded, “At Our Broker, we are dedicated to supporting buyers, ensuring they are well-prepared and facilitating the best possible experience for their new property purchase.”
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