Lifestyle Likely To Win Over Location

With predictions leaning to an inevitable economic downturn, it may seem unfortunate timing to consider selling your home.  With economists predicting a potential 30% decrease in property prices, options and opportunity seem to have given way to doom and gloom.

With word of a mass exodus of city-dwellers making the move to more rural climes, it is a good time to consider, how does this impact us?

Agents across all states are recording an increase in buyer interest outside of major metropolitan areas.  With city rental vacancy rates skyrocketing and buyers eyeing more balanced lifestyle, Penrith may just be the perfect place to be.  But location doesn’t outweigh all other considerations, and sellers will have to manage their expectations at this tricky time.  But with buyers making their move, there is still reason to be hopeful.

Financially, the ball is back in buyer’s court, after so many years of being priced out of the market, but this can still bode well for sellers.  Balanced with a significant increase in buyers looking to relocate, low interest rates remaining favourable for buyers, and an abundance of buyers still shopping, this is still a suitable time for locals to sell. Since on-site auctions and open houses again became available to vendors, we have seen a subtle increase in sellers willing to put their homes to market.

Luckily for us, we have chosen to live in a lifestyle area.  Once only a dream for many, now people are contemplating their current situations, calculating their priorities, and finally taking the plunge to rearrange their lives and seek out balanced living.  With work/life equilibrium well and truly askew, people can now look ahead and create a long-term lifestyle choice that, for many, means leaving big city life behind.

So with so much on offer in our beautiful area, we can hope this holds us in good stead in an uncertain market.  Lifestyle will likely win over location in the coming months, and that looks like a bright future to us.