575,000 Reasons To Book Your Property Appraisal

2021 was a monumental year for the property markets around Australia. Houses sold for record prices, days on the market were reduced, and even settlement periods were slashed. All of this indicated a huge demand to buy homes and then move in reasonably fast. This trend hasn't slowed down this year.

So are you looking for a reason to sell in 2022? In 2021, 575,000 homes were sold, with many owners benefiting from peak pricing. That’s 575,000 reasons to book a property appraisal this year.

There are a few things to consider before putting your property on the market. Getting a property appraisal is one of them, as it will allow you to know how much your property might be worth and decide on the best strategy to achieve the highest selling price.

Units are growing in popularity

It is interesting to note that 2021 revealed some slight changes compared to previous years. According to CoreLogic, units and houses respectively accounted for 27 per cent and 73 per cent of the recent sales, which roughly equates to 155,000 units and 420,000 houses sold. The share of units in 2020 was a bit lower, sitting at 26 per cent.

In a year where house prices soared, and sellers wanted to make the most of the market's peak, it wasn't surprising to see more and more buyers having to compromise and settle for a unit. Knowing that the median prices didn't increase as fast as houses, we expect an even larger share of units to be sold in 2022 and prices to peak. 

Understanding where your property decisions take you

With more people looking to take advantage of peak market pricing, an increase in the sale of properties in 2022 seems to be on the cards. However, tighter lending standards may make it difficult for prospective buyers to enter the market. If listed properties aren't progressing to sale, the activity might slow down and, in turn, put downward pressure on prices. 

In the current market, those looking to ride the wave of a seachange might give the lifestyle a go without the pressure of paying a mortgage. However, in the long-term, purchasing a property will always remain the goal for many Australians.

Those who haven't leaped recently will be waiting for the 'perfect time'. The thing is, there is no 'perfect' time. The recent market changes proved it. It has been so turbulent and unexpected that trying to determine when the best time to buy or sell is almost impossible.

What we do know, though, is that staying aware of where your property stands is essential. That's where property appraisals come into play. They are key in understanding the local market, how it fluctuates, whether an investment is worth it, if it is time to downsize or upsize, and more. Or, more simply, a property appraisal can tell you what type of worth you are sitting on.

Book an appraisal today 

Understanding the different types of value that come with your property, owned or potential is incredibly important when it comes to making decisions about your future. My team of dedicated and experienced professionals can assist you through the process. If a Virtual Appraisal is more suitable, please don't hesitate to contact us! 

The Wayne Morgan Team is waiting to assist you. We offer you experience alongside excellent market knowledge that helps make the buying or selling process as smooth as possible. As Australia’s number one real estate brand, a little help from the team can prove invaluable when it comes to buying your home. Contact The Wayne Morgan Team TODAY! 

We would love to be involved in starting this journey with you. 

Please click on the button below to book your personalised appraisal.