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December 24, 2020

Should I Sell My Property In 2021?

Should I Sell My Property In 2021?
2021 is shaping up to be an extremely positive year for sellers, with experts anticipating the housing market is set to rebound after a moderate decline to the Melbourne property market in 2020 due to the Coronavirus pandemic.

This is a golden opportunity for sellers in Clayton, Monash and Kingston where investor interest continues to increase.

Property market set to take off in Clayton, Monash and Kingston in 2021.
Months of lockdowns in Melbourne saw the Real Estate sector shut down this year, hindering usual buying and selling, and resulting in a downturn in property prices.

However, as the state reawakened post-lockdown, we have seen auction clearance rates steadily rising and a higher level of demand from buyers which is set to continue into the new year; an excellent opportunity for sellers in Clayton, Monash and Kingston in 2021.

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This commerical building was sold at Auction $400,000 over the reserve price.

Why 2021 will be a good year to sell in the Monash area?
The pandemic has caused many Australians to put a halt on spending in 2020, with data from the Australian Prudential Regulation Authority revealing that Australian householdshave saved almost $119 billion over the past year. With restrictions on how Australians will be able to spend their savings in 2021, including overseas travel being off the cards, many Australians are looking to invest in the property market.
119.PNGSource: Australian Prudential Reguation Authority

Gareth Aird, Commonwealth Bank of Australia’s Head of Australian Economics has stated that increasing consumer sentiment, coupled with low interest rates and cashed-uphouseholds are stimulating price growth in the property market. The latest gross domestic product figures from the Australian Bureau of Statistics have revealed that Australia’s economy grew 3.3 per cent in the September quarter, further strengthening consumer confidence.

Increasing buyer confidence and demand, coupled with the current lack of property on the market is another advantage to sellers in Clayton, Monash and Kingston, with realestate.com.au data revealing that the median number of days on the market has dropped in many parts of Australia, setting up an encouraging year for sellers in 2021.

With many experts predicting a steady rise in property prices next year and increasing buyer demand, now is an opportune time for sellers considering selling their property in Clayton, Monash and Kingston.

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This 3 bedroom home in Clarinda sold in only 3 days!

Thinking about selling your property in Clayton, Monash or Kingston in 2021?
First National Clayton JXRE know Clayton, Monash and Kingston best, and our friendly,experienced team is here to help you achieve your property goals in 2021.

To find out more about selling your property, or if you have any general enquiries, please donot hesitate to contact First National Clayton JXRE on 9975 7888.