First home buyers take over investors in property market
2 October, 2020
The property market remains one of the most watched parts of the economy as first home buyers continue to strengthen their position as buyers in this challenging period.
Spring time is usually the most popular time of the year for buying and selling homes. And 2020 is no different, as Melbourne comes out of lockdown and stock comes onto the market in other capital cities including Sydney and Brisbane.
But the profile of buyers is changing according to Ercan Ersan from Ray White Erskineville and Surry Hills in inner Sydney. He says first home buyers are now outstripping investors as the dominant force at the lower end of the market.
“One thing that people will always need is a roof over their head. Whether it is upsizing, downsizing. I’m seeing less investor activity. There are less people out there who already have a home who are focused on buying a property,” Ercan said.
“But there are a lot of people, especially first home buyers, owner occupiers, who are really taking this opportunity to buy something. In the last two or three years they may have been priced out of the market.”
So our interior stylist Lauren Keenan and Ercan Ersan have talked about their top tips for presenting a home for sale this spring.
It’s all in this episode of our award-winning home, lifestyle and interior design podcast At Home with Lauren Keenan. Stream the show here now or listen and subscribe in your favourite podcast app like Spotify or Apple Podcasts so you never miss an episode.
CHANGING TASTES AND PANDEMIC DRIVING PROPERTY SALES
Ercan says people aren’t as concerned now about proximity to the city, airports and lifestyle when looking for their next property.
“We are seeing more buyers who are happy to sacrifice location to go a bit further out to get more land. Most people are working from home and they want a separate office or study. People are going to areas they weren’t previously and that’s creating competition in outer suburbs.”
In fact, he reports that this is likely to be the biggest driver of property sales in Australia over the next 12 months.
“It’s the biggest shift I’ve seen in property in 15 years. Buyers have completely changed how they are looking and what they are looking for. People are now waiting for a property that has a fourth bedroom that can be a study. They want that big backyard. They want double parking. They want the quiet tree-lined streets and access to parks and beaches. I truly believe this is the new buyer.”
Find out more about what people are searching for in our interview Alice Stolz, National Editor at domain.com.au.
TOP TIPS FOR PRESENTING YOUR HOME FOR SALE
Whether you’re first home buyers or perhaps upgrading or downsizing, we’ve got some key tips you need to know. Ercan and Lauren agree that now may not be the time to over capitalise on your property with new kitchens and expensive upgrades. But there are some things you must do to get the best price for your home.
- Cleanliness – don’t give people a reason to feel uncomfortable or negative when they’re in your property. You want potential buyers to feel good and see the big picture, not focus on little issues.
- Painting – a fresh lick of paint in a neutral colour is the best way to give the house a nice clean and bright feeling.
- Staging for sale – you must present the property with furniture and styling items that help the buyer feel what it would be like to live there. Think artworks for impact, de-clutter to add space and add rugs to identify specific areas of focus.
- Street appeal – front and back gardens or balconies in apartments have to be tended to and maintained. Paint the fence or plant some new shrubs to soften the front of the property and add that wow factor from the footpath.
Email us now if you need help preparing your property for sale.
LAUREN’S LOVELY LIST
Here are the links for Lauren’s Lovely List recommendations in this episode of the podcast:
- Buy one of a kind ceramic tableware from Australian creators Batch Ceramics;
- Check out the new kids collection at Adairs for a special little someone in your life;
MORE ABOUT OUR PODCAST AT HOME WITH LAUREN KEENAN
This episode of the podcast is supported by Ercan Ersan, who you can trust to connect you with the property that’s right for your lifestyle.
Our award-winning interior design podcast, hosted by Sydney interior stylist Lauren Keenan, is now in its fifth year. Lauren and Producer Scott are helping you to adapt to new ways of doing things during the pandemic. As well as helping you to create a home you love.
Get in touch if you have a topic you want us to talk about on At Home with Lauren Keenan. Rate and review the show on Apple Podcasts and subscribe in your favourite podcast app like Spotify or iHeartRadio so you never miss an episode.
And if you want to hire Lauren to help create your perfect home, send us a message. Whether it’s building, renovating or just updating your favourite room, email firstname.lastname@example.org. Find out more about the services offered at Lauren Keenan Home and check out Lauren’s portfolio of work for some inspiration. And thanks for listening!
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