Four out of 10 Australians are willing to make a sea or tree change in the coming years
According to JLL, Australia attracted the largest number of investors in the Asia Pacific region in 2021, accumulating a 170 percent increase to USD35 billion compared to the previous year.
Logistics real estate transactions drove the surge in activity throughout the year to a historic high of USD9.3 billion. Investments in retail and offices are also predicted to recoup, demonstrated by the rise in acquisitions by foreign buyers.
The housing sector also witnessed an increase in purchases in the past year and the momentum is predicted to bubble over in 2022. Australia’s leading property site realestate.com.au is expecting more listings, more sales, and higher prices this year.
The company revealed that the properties listed on their site rose 13.5 percent higher in February of this year than last year.
Homebuyers have been capitalising on the greater number of supply, seeing as the sales volume to date is still four percent higher than the same time last year. These assets have also been selling at a fast pace, with homes being sold in just 10 days from the date of listing, a solid increase from the 35-day average in 2021.
The Real Estate Sentiment Report published by LocalAgentFinder found that more than eight out of 10 participants anticipate housing values to grow this year, with six out of 10 expecting it to soar by 10 percent or more, reported Australian Broker.
The report also uncovered that most Australians approve of the work from home set-up, with six out of 10 stating that they would rather continue working from home if given the option and four out of 10 disclosing their willingness to make a sea or tree change in the next few years.
“The survey suggests that despite the incredible price growth and sales volume through 2021, Australians remain quite bullish on the market’s prospects in the short term,” said LocalAgentFinder CEO Richard Stevens.
“This confidence is likely generated from the remarkable resilience of the property market through the pandemic, and many may feel that this is likely to continue with the easing of restrictions as Australia opens back up,” he added.
Ronald Chan, director and chief operations officer at Finbar Group Limited, told The West Australian that he predicts the number of foreign buyers in Australia to skyrocket, particularly investors from Singapore and other well-off markets in Asia. He believes that these buyers are interested in the “relative safety and normality” that Perth has to offer.
“An increase in immigration, coupled with anticipated price appreciation, will see investors continue to return to the local apartment market. This will be complemented by first homebuyers, who are increasingly looking at apartments as an affordable and convenient entry into the market. We believe these two sectors will make up an estimated 60 percent of apartment sales in 2022.”
With the vast investment opportunities across the residential and commercial markets, investors must pay attention to developers, developments, and designs that prioritise quality and match their needs. As such, winners of the 4th PropertyGuru Asia Property Awards (Australia), namely Brady Property Group, Optimus Developments, Volume Projects, V-Leader, and Samuel Property, are among those that have demonstrated their utmost commitment to their projects and its end-users.
Know of any outstanding residential or commercial projects in Australia? Nominate them for the 4th PropertyGuru Asia Property Awards (Australia) on or before 30 September 2022. To know more, visit AsiaPropertyAwards.com/Award/Australia/.
Gynen Kyra Toriano, Digital Content Manager at PropertyGuru, wrote this article. For more information, email: [email protected].
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