Property values continue on a growth trajectory
CoreLogic data shows that the combined capital cities saw property values increase by 9.6 per cent in the 16/17 financial year, which is actually greater than the 8.3 per cent rise seen over the previous year.
With the latest financial year results in, we’ve now officially seen five consecutive years of capital growth. In fact, over the last 20 years, we’ve only witnessed a fall in property values twice.
What this shows us is that, historically, property downturns aren’t a regular occurrence and this can give confidence that in the future, they’ll remain relatively rare.
Although there are a lot of people who are forming an opinion on the future of property markets, forecasting what might happen in the future is next to impossible. What we can comment on is what we’re seeing happen right now.
The economy is currently motoring along, as are global property markets. There isn’t any reason for things to drop off right now. And the fact is, we’re actually seeing quite a strong winter market - we’re still seeing strong demand at auctions when properties are marketed correctly.
An effective marketing campaign is one that creates competition and engages the whole marketplace – both active and passive buyers. Bringing in more passive buyers who aren’t actively looking on digital property portals (because they aren’t in the mindset of ‘ready to buy right now’) is a critical element to any property sales campaign. So therefore, agents who engage the passive audience in their markets are the ones that will operate at a premium level.