Sydney apartment specialist shares his 2020 property predictions
Announcement posted by 360PR 17 Dec 2019
Adrian Wilson, founder of apartment specialist agency Ayre Real Estate, shares his 2020 property predictions for vendors, renters and investors alike. Following the spring rush and a new norm for the market stabilising, Wilson believes that in 2020 stock levels will continue to tighten and sales of properties prior to auction have the potential to increase, while the inner-city lifestyle will continue to draw downsizers looking for luxury living with lifestyle perks.
“Over the past six months, we have seen the market evolve, with ready buyers who have been holding out for the past 6-12 months (or longer) now eager to secure their next property. Most buyers we are meeting have done their research, have got their finance approved and know what they want and as a result, have been trying to secure properties prior to auction. In part, this is to avoid having to compete against other buyers at the auction, but it also makes sense for buyers to submit strong offers once their due diligence is done. There’s no point waiting for a week or two for the auction if you are ready, willing and able and can proceed on an exchange. We expect the energy and momentum seen over the past few months to continue in the lead up to Christmas and into the new year with no easing of buyer levels anticipated,” said Wilson.
“Over the past six months, we have seen the market evolve, with ready buyers who have been holding out for the past 6-12 months (or longer) now eager to secure their next property. Most buyers we are meeting have done their research, have got their finance approved and know what they want and as a result, have been trying to secure properties prior to auction. In part, this is to avoid having to compete against other buyers at the auction, but it also makes sense for buyers to submit strong offers once their due diligence is done. There’s no point waiting for a week or two for the auction if you are ready, willing and able and can proceed on an exchange. We expect the energy and momentum seen over the past few months to continue in the lead up to Christmas and into the new year with no easing of buyer levels anticipated,” said Wilson.
Adrian Wilson’s predictions for 2020 include:
- Stock levels will keep tightening as interest rates continue to be reduced
- Sales of properties prior to auction will continue to be popular and are likely to increase
- Properties priced $3m+ will favour two-stage marketing campaigns, conducting an off-market period first, and if not sold, listing actively online for Auction or Private Treaty
- Inner-city lifestyle locations, such as Circular Quay, Barangaroo and Hyde Park, will continue to attract interest from downsizers selling in the suburbs and looking for a luxury apartment
- Rental rates to remain steady, or increase marginally, across the board with the number of available properties reducing due to supply issues constraining with more owner-occupiers buying
- Investors looking for yield are returning to the market with interest rates at all-time lows
- Increasing trend of buyers relocating between east coast cities; Sydney, Brisbane and Melbourne
Ayre Real Estate’s latest property listings include:
1201/2 Mount Street Walk, Pyrmont – 3 Bed, 3 Bath, 2 Car
801/70 Tumbalong Boulevard, Sydney – 3 Bed – 3 Bath, 2 Car
1002/185 Macquarie Street, Sydney – 3 Bed, 3 Bath, 2 Car
3502/197 Castlereagh Street, Sydney – 3 Bed, 2 Bath, 2 Car
2207/161 Clarence Street, Sydney – 2 Bed, 1 Bath, 1 Car
1302/71 Macquarie Street, Sydney – 3 Bed, 2 Bath, 2 Car
About Ayre Real Estate:
Ayre Real Estate has been founded by multi-award-winning Real Estate Agent, Adrian Wilson, a pioneer in the Sydney City apartment market with nearly 20 years’ experience and perhaps one of the most strategic thought leaders in the industry. The Sydney City apartment specialists, delivers apartment focused services that are smarter and simpler, yet deliver beyond expectations for both owners and landlords while elevating the lives of the clients and communities they work in.