It’s evident that our winter hibernation is over, and we’re seeing a surge in both buyers and sellers entering the market. There’s a growing demand for units as renters and buyers seek out their own space. In a market like this, it’s crucial to be prepared to make an offer promptly, as hesitation could mean missing out on a great opportunity.

The increasing popularity of units can be attributed to a shift in our pandemic-influenced housing preferences. While there was initially a trend towards larger houses with gardens and more living space during Covid, the current trend is favouring smaller, denser apartment living. This shift is driven in part by affordability.  The gap between an inner city home versus an inner city apartment is widening.

Units present a more affordable option in the face of rising living costs and the return to office work. Their proximity to public transport, urban areas, and the CBD makes them a more attractive choice compared to higher-priced houses further from the CBD precinct. Both convenience and cost-effectiveness are playing a significant role in this changing trend.

A recent report from the Australian Institute of Family Studies has revealed an increase in Australians living alone, with over a quarter of households occupied by a single person. This trend is influenced by various factors such as changes in relationships, evolving family structures, and younger individuals delaying starting relationships, all of which contribute to the appeal of living alone.

In this dynamic market, my advice to you is not to delay making an offer, especially for a unit. Ensure that you are fully prepared to make a purchase, complete your paperwork in advance, and have your offer ready to go to put yourself in the best position to buy.  Planning, staying organized, and seizing the day will put you in a strong position to succeed.

We have a number of great apartments for sale and lease. The recent sale of 6/21 Kidston Street, Ascot, demonstrates the need to be prepared. We had 13 groups attend the first open home, received multiple offers to purchase, and placed the property under contract within 4 days of it hitting the market.

If you need any assistance, we are here to help.

Amanda Butler – Principal – 0438 767 439 – [email protected]