A Difficult Year For Buyers, Reflecting Back On 2021
It’s hard to believe that we’ve finally reached the end of 2021. For many of us, this year was full of new challenges and rewarding experiences alike. And whilst we’re looking forward to a fresh start and the new beginning that another year brings, we’re also taking the time to reflect on 2021.
This year, Australian residents experienced the biggest annual increase in residential house prices since 1989. And according to CoreLogic, the average house price increased by more than 20% over the past 12 months.
These increases, coupled with high demand, resulted in many buyers feeling disappointed and frustrated with some properties selling for $100,000 over asking price in some cases.
Darren Gunn, principal of Your Address Real Estate could only describe this as an emotional year for buyers:
“I am very sympathetic with buyers. The market is very competitive, and it’s so easy to get emotionally invested in a property - especially if it ticks all the right boxes. We’re in the people business, so whilst I love seeing my team generate excellent results for sellers, I can’t help but feel for buyers who missed out.”
“We’ve worked so hard on helping our buyers get in first with our Buyer Alerts, but we often see properties sell within a week of launching!” Darren explains.
“It’s interesting, at first buyers are in this disbelief, but it’s only after they miss out on a few properties that they finally realise how fast they have to act.”
"In our role as real estate agents we are employed by the sellers to achieve the best sale result, and we take our responsibility very seriously; however we are very committed to assist and guide the buyers through the process to enable them to make the right buying decision. It is always within our best interest to present all offers and guide sellers into the direction of the most concrete offer.”
Darren adds, “But if you’re a buyer in today’s market, and you have a solid offer, then I would encourage you to continue looking and putting in offers. Our role as real estate agents is to act on behalf of sellers and buyers, it is always within our best interest to present all offers and guide sellers into the direction of the most concrete offer.”
“Lastly, I just want to thank each of our buyers and those who put in offers. I understand that these times are especially challenging, and that finding a home can feel like an emotional rollercoaster. Our team will always be here, ready to help guide you in the right direction and present your offer in the best light possible.” - Darren Gunn.
If you’re a buyer in today’s market, then be sure to subscribe to our Buyer Alerts to be notified when a property comes to market.