2020 Property Market Outlook
If predictions are correct, 2020 could see unprecedented price growth across the property market in Melbourne, and in most capital cities in Australia. After what has been a challenging 12-month period for all of us in the property industry, a forecasted recovery is certainly welcomed with open arms!
The close of 2019 saw an increase in auction clearance rates, the levelling of property values and the gradual improvement of both seller and buyer sentiment. This followed a well-documented downturn, clearly headed by disruptions in both industry and policy such as the banking inquiry, reluctance of lenders and speculation about the future of negative gearing.
However, January 1st welcomed a new wave of buyers with the commencement of the First Home Deposit Scheme, a fresh initiative further encouraging the growth of this already sound market segment. It also represented the commencement of the strong summer selling period, an historically tenacious season for property sellers which progressively develops over the first few months of every new year.
With the real estate market in 2020 forecasted – and already on track – to benefit from improved lending conditions, low interest rates, clarity on policy, and the continued bloom of market optimism, there will be no shortage of buyers keen to get ahead before the expected re-awakening of the boom.
Sellers who were holding off will likely return to the market, delivering plenty of opportunities for hungry home buyers. However; perhaps unlike previous boom times, and thanks very much to hyped media speculation and bad-news-stories throughout the 2018/2019 downturn, buyers are more educated and more expectant than ever before. As a result, sellers will need to be savvy in order to cut-through the increased supply of listings expected to hit this year.
Presenting a property as well as possible is vital for the maximisation of its selling potential in 2020. In this digital age, the majority of home purchases are the result of an online search and this means the first impression – the image used to represent the home listing – is king. Sellers will need to ensure the first impression they deliver of their property is the best they can possibly present – otherwise, buyers will simply keep scrolling.
With the process to purchase a home starting online, the image used to list a home can be the difference between selling well, and not. If a buyer isn’t convinced by the image of a home at first glance, it is likely they will not consider at all.
Urban Angles are the best in the business when it comes to capturing the most aesthetic features a home has to offer its new resident. Our team strive to present each property so that it sparks an emotional connection and association at first glance. Our team are experts in not only selecting the best shot but understand how to enhance the authentic beauty in a property via post-production editing.
If you have a property to sell this year, make sure you put your best foot forward. Give Urban Angles a buzz to find out how.