When you look back at 2023, the pressure of rising interest rates, the challenges of cost of living increases and the uncertainty that was generated by all the talk of a ‘fixed rate cliff’, clearly put some pressure on the housing market across Melbourne.

Yet despite these potential brakes on the property market, we’ve seen property values continue to rise slowly but steadily during the past year…a clear indication of a market where an ongoing shortage of new listings has forced buyers to compete strongly for the chance to secure the keys to their next home.

You’ve only got to look at the level of buyer activity in our part of Melbourne during the last quarter of 2023 to understand why the outlook for those planning on making their next move in 2024 is a positive one. This is particularly the case for those keen market watchers who are planning on putting their property on the market in the early part of 2024, as there are no signs of an easing of the tight supply issues that I mentioned earlier.

With this in mind, I would suggest that if you are enjoying a break over the festive4 season, it’s a great opportunity to start making plans so that you don’t miss the boat on what may well be a strong start to the selling season from mid-January onwards.

Don’t forget, if you need any advice or assistance in firming up those plans, whether you need an update on your current property’s likely selling price or some help sourcing the right tradies or services to get you property ‘market ready’, the team at Barry Plant Thomastown will be back at work from January 3rd, so fell free to give us a call 9466 3233.

In the meantime, enjoy your down-time and stay safe.

Best wishes,

Con Constantinou

Barry Plant Thomastown