According to CoreLogic, Sydney’s median house value reached a new record of $1.37 million in 2021, which is a 29.6% increase from the previous year. While some cities and regions continue to show strong growth a lot is predicted to change in 2022, with some experts advising that the peak of the market is behind us. 

Several factors have been suggested to influence this prediction for the Australian property market. Some of these include inflation and a foreseeable hike in interest rates, tightening of lending by APRA, and reopening of international borders among others.

It's confusing and there is much to contemplate before you make your decision. Should you take advantage of current selling conditions or should you wait it out and see if prices continue to rise? If you have been thinking of selling, we give you 5 multidynamic reasons why you should consider selling in the current market.

1. Interest rates are predicted to rise
There has been much talk about the impending interest rates hikes. There is no doubt that the rising interest rates make buying or selling a home more difficult. This is mainly because as mortgage rates increase, affordability decreases leading to fewer buyers in the market. For example, if you want to sell your home at $500,000 however due to rising interest rates potential buyers can only pay $450,000, you may miss out on the opportunity to make the maximum profit from your sale.

2. Prices remain up
While prices continue to flat-line in the Sydney Market, they continue to remain up. According to realestate.com.au, house prices dropped 0.5% over February in the Hills District. However, it is important to note that these drops are followed by a 30.8% year-on-year increase. Therefore, selling property in the current market could still bring you the dream sale result.

3. Demand remains high!
Yes, at the moment it continues to remain a seller’s market. Despite the increased number of properties being listed for sale, the supply of properties for sale just can’t keep up with the demand. The number of days to sell a property continues to remain very low, which is a strong indication of a limited supply making it easier to sell.

4. Home inventory is low
This brings us to the next reason - the property market is seriously lacking inventory at the moment. The number of properties for sale is still in short supply leading to little competition in the housing market and setting the stage for a quick sale at a price you may be after.

5. Personal circumstances
Finally and most importantly, choosing to sell isn’t just about current market conditions, but largely depends upon the urgency of your circumstances. Are you ready to move into your next phase in life? Did you need to upsize into a bigger property or downsize to a smaller property yesterday? Are you in a position to wait and observe if the market will hold up or do you think you have achieved the capital incentive and are ready to cash in before retirement? 

Whatever your circumstances are, if you’re still confused about selling, we get it. It’s a huge decision that deserves all your careful consideration, so let us help guide you through the process.

Our experienced and passionate Real Estate Agents can help you understand
 What is the current demand for homes like yours?
 How buyers are behaving for properties in your suburb?
 What kind of results are being achieved for properties similar to yours?
 What is the best strategy you could use to get that dream sale result?
 

"Get in touch (book an appraisal) with us for a no-obligation appraisal to help you understand what your home might sell for in the current market."