East insights from Red Report
Our expert agents in the east have shared their top three trends and predictions for their local market in 2017.
Top three trends
- Land Land Land
Investors in particular are seeking out land in the east to either build one or multiple homes on.
- Down sizers drive apartment demand
Baby Boomers looking to leave their family home but remain in the local area are driving demand for apartments in Kew.
- Schools still a major draw card
The demand for private and public education continues to be a major factor for demand.
The past six months has seen limited supply of homes in the east, subsequently driving up competition, house prices and clearance rates. With stamp duty concessions arriving in July for first home buyers, competition for apartments under $600,000 will intensify, especially as young buyers wish to remain close to their families in the suburbs.