Housing market is smiling on downsizers
Thursday, 23 July 2020
The majority of our residents rely on the sale of their current home to buy their dream retirement lifestyle at The Atrium Lutwyche, so selling at the right time and price is essential.
We asked agent Libby Patrick, of Ray White Bridgeman Downs, if the Covid-19 crisis has led to any changes in the local real estate market and whether it might be the perfect time to sell your home.
Libby Patrick, agent of Ray White Bridgeman Downs
Libby has her finger firmly on the pulse of the real estate market in the northern suburbs of Brisbane and has helped several of our residents prepare their homes for sale to move into The Atrium Lutwyche on High Street. Our first residents began moving in during February 2020 and are thriving in the friendly and welcoming community.
Libby says, despite the current economic climate, housing prices within the northern areas of the city have held strong to finish the 2019-2020 financial year.
“With robust buyer activity and fewer properties on the market than this time last year, it is a great time to consider selling your current home,’’ she says.
“At a time when many of our clients are concerned about the property market and are delaying their decision to sell, we've experienced some remarkable June sales results.
“Traditionally, real estate markets are driven by a number of factors however the two basics of supply and demand play a significant role in establishing market conditions that favour sellers or buyers.
“Over the past two months, supply of properties for sale on Brisbane’s northside has been low in historical terms and we have seen consistent and strong buyer activity in property inquiries and attendance at open homes. This now means that there are more buyers competing for fewer properties, creating conditions that lean towards our sellers and their ability to achieve better results. The property owners who are coming to market over this period have achieved great results because of the basics of supply and demand.’’
Aerial view of North Brisbane
Libby says the major factors contributing to buyer confidence include interest rates at records lows; banks and lenders remaining very supportive of residential property, and record levels of government stimulus.
If you require any further information about the local market, please contact Libby Patrick of Ray White Bridgeman Downs, on 0419 122 350.
If you would like more information about the retirement living options available at The Atrium Lutwyche, or view our beautiful display apartments, please call 07 3357 9092 or email firstname.lastname@example.org.