Brett Warren , National Director – Metropole Group
Ever feel like there are “For Sale” signs popping up more these days?
Well, you’re not imagining it because the property market has been bustling lately, with more homes listed for sale last year than in the previous year, according to recent research from PropTrack.
In fact, it was the busiest year for new listings since 2021, which makes me wonder why are so many people selling?
The main driver seems to be positive market conditions, according to the research.
Economic and market stability have given sellers the confidence to list their homes, with factors like strong demand and consistent price growth playing significant roles. It’s been a reassuring time for homeowners to make their move.
One group in particular – pandemic-era buyers – has been especially active. These are people who bought homes during 2021 and 2022, and they’re relisting their properties much sooner than usual, according to PropTrack.
In fact, as a group, they’ve listed more homes than expected compared to buyers from previous years. But why the rush from some vendors?
Well, it’s not all about high interest rates or financial stress, as you might guess. Instead, according to the research, many have seen their property values soar, giving them the equity to upgrade or move on to new opportunities sooner rather than later.
But, overall, recent selling activity reflects good news – homeowners are benefiting from favourable market conditions and strong financial positions.
According to PropTrack, these trends are likely to continue this year, though, perhaps at a slightly slower pace.
However, if home price growth begins to level off, sellers might have to adjust their price expectations. The market seems set for a steadier pace in coming months, but it remains a great time to sell for those looking to make a move as well as a great time to buy a home or investment property.
