Factors That Influence Property Market

Whether you are selling or buying an investment property or home in Sydney's Southwest, you need to consider what the property is really worth. So what are the factors that affect property value? From location to planned infrastructure, economy, unemployment, Supply & Demand, inflation, interest rates facilities, size, and aesthetics, there are numerous factors that affect what a property is worth.

The market can be super confusing. There’s a lot going on and sometimes it doesn’t make sense. ⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

Luckily, that’s why you have a real estate agent. We spend tons of time studying the market so we can help our clients make the best decisions possible.

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But it’s helpful to know about the factors that influence the housing market when you’re looking to buy or sell. ⠀⠀⠀⠀⠀⠀⠀⠀⠀

Supply & Demand

Like most markets, the housing market is heavily influenced by supply and demand. Right now, the market is a seller’s market, which means there’s a lot of demand and little supply. ⠀⠀

Interest Rates⠀⠀⠀⠀⠀⠀⠀⠀⠀

We’ve also had low-interest rates, which makes people want to buy homes so they can lock those low rates in. RBA decisions to lower the official cash rate and left the rate at 0.1%.⠀⠀⠀⠀⠀⠀⠀⠀⠀

Economy & Unemployment⠀⠀⠀⠀⠀

Interest rates are really determined by the overall health of the economy. When the economy is doing well, interest rates go up because people can afford it. But when we’re in a rough patch, interest rates will decrease to encourage people to make larger purchases. The same goes for unemployment. ⠀⠀⠀⠀⠀⠀⠀⠀⠀

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There are a ton of different components to the behavior of the real estate market. That’s why working with a real estate agent who works in your local area, and better yet, your neighborhood is so important. ⠀⠀⠀⠀⠀⠀⠀

 

Ready to sell or invest?

At Empower Estate agents, We provide a great experience, outstanding marketing & the best negotiations tactics to help our clients to achieve their property goals. One of our best real estate agents in South Western Sydney Sana Ullah, a well-experienced, trusted and reputed real estate agent in Sydney with his excellent marketing skills.

 

We believe, Buying or Selling a home is one of the biggest financial decisions of your life. That’s why finding a real estate agent with the experience to guide you through the process is key. Our extensive southwest western Sydney real estate market research and strategies will help you to sell your property at the highest value.

 

 

 

Disclaimers:  Data provided in this article is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice.

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