As 2022 draws to a close and we reflect on the year that was, there’s no denying that the post-covid market has been impacted with rises in interest rates and inflation. The good news is that property in the eastern suburbs has been selling well. In fact, it’s been a strong year for PPD with the team securing 601 sales. The market has levelled out with inflation levels curbed and interest rates are not going to rise as much as media pundits predicted meaning that we can expect a strong start to 2023.

Our advice to vendors thinking of selling in 2023 is to list in January/February with May settlement enabling them to take advantage of the undersupply of property compared with the crowded March marketplace. Stock levels are lower in the first couple of months and buyers have more time to inspect and consider a property. That’s backed up by facts as research shows that, over the past few years, New Year’s Day is the biggest day for hits across realestate.com.au and domain.com.au and our team records the highest number of new buyers in January each year.

Alexander says, “Listing at the start of the year makes total sense in the current market which is still defined by a distinct lack of stock. In addition, the RBA doesn’t meet in January so there won’t be any media noise about another rate rise and buyers have renewed energy and determination with many underbidders from the end of the year as well as a whole new buyer pool. I’ve already listed eight auctions for February with limited positions remaining so please do get in touch soon if you’d like to take advantage of a prime selling time.”

This week the sales team secured 5 sales with an average price of $3.4m and listed 10 new properties and the management team secure 11 tenancies and listed 20 new properties for lease.