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A year when buyer confidence shone through

Real estate & property news
01 January 2022
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Now that 2022 has officially arrived, we thought this would be an ideal opportunity to look back over the past twelve months and to see what lessons we have learned not to mention what indications there are for the year ahead.

However, before we do that, we wanted to take this opportunity to wish everyone a very happy New Year if we haven’t already done so. We hope you are enjoying a relaxing and enjoyable break and, more importantly, you and your family are looking forward to a year filled with far more positive moments and less challenges than the year we have just left behind.

When we look back over 2021, one of the biggest lessons that we can all take note of is that things are rarely as bad as some sections of the media would have us believe. Sure, 2021 has been a year that tested all of us in many different ways, but from a property perspective the years started with a lot of so-called “experts” forecasting doom and gloom, and it certainly wasn’t that! In fact, despite the impact of multiple lockdowns, restrictions on local travel and property inspections, the property market forged ahead with a real sense of momentum throughout the year.

In fact, our team at Barry Plant Gladstone Park was able to achieve several record-breaking sales despite the uncertainty of life in Melbourne. Results like the sale of a home in Trumpington Terrace in Attwood for well in excess of $1.8 million along with the sale in Inverness Mews, Greenvale for $2.6 million certainly got the local talking as well as establishing new benchmarks for the area.

At a national level, the latest data from Corelogic shows that the estimated value of residential real estate in Australia rose from $7.2 trillion at the end of November 2020, to reach a record high of $9.4 trillion in the space of just 12 months.

Not only did dwelling values increase nationally by 22.2 percent in the 12 months to November 2021, (the strongest growth since 1989), but this rise was achieved in a market where sales volumes reached their highest figure in close to 18 years, with over 614,000 property sales being recorded.

Indeed, our team was still negotiating several strong property sales on Christmas Eve, and with so many buyers still yet to secure their next home before the end of the year, all the signs are indicating that the property market in the City of Hume is likely to resume its strong activity levels as soon as our doors reopen on Tuesday January 4th.

Taking all these factors into consideration, we believe that there is an undoubted opportunity for anyone planning on selling in 2022 to achieve a very strong result by hitting the market early in January. So if you would like to discuss your options, give us a call this week at Barry Plant Gladstone Park on 9330 1088.

Best wishes,

Nick Pugliese - Sales Director

and Bill Karp - Director

Barry Plant Real Estate

Gladstone Park

Real estate & property news
01 January 2022
Save Article

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