Australians are selling property left, right and centre.

We must have one of the most robust property markets in the world. And here's another piece of research to prove it.

Data released by one of the Big Four banks shows that at least 1 in 10 homeowners are in the process of selling up, while 1 in 3 are considering selling their home in the next five years.

Many are motivated by a desire to upgrade to a more lifestyle-friendly home, or at least one that incorporates a home office.

And who can blame them? The combination of historically-low interest rates, improved consumer sentiment and our robust economy are creating confidence that they'll secure a hefty sale price.

There is also significant demand from first home buyers, with 1 in 5 Australians planning to buy a first home in the next five years.

So, what do you need to consider when selling your property? Here are some of the costs involved:

Listing with an agent

Most Australians choose to enlist a professional real estate agent to sell their homes. If you follow suit you'll be up for marketing costs, the agent's commission, and potentially auctions costs as well.

Sprucing up any kitchens and bathrooms

Kitchen and bathrooms can date quickly, and so many buyers invest in making minor cosmetic changes to these wet areas to help modernise the overall look and feel of the property.

Landscaping the garden to improve kerb appeal

Let's face it, we're all just a bit shallow, and having an attractive street frontage can be enough to convince a prospective buyer to inspect your property. And of course more interest can generate a better price.

Mortgage early exit fee

One of the many and varied reasons why it's worth securing your home loan through a trusted finance broker - because you don't want the fine print to bear any nasty surprises!

Conveyancing fees

This is an essential service required to transfer the ownership of the property from you to the buyer, and will usually cost between $1-2k.

Reach out if you need help covering the difference between your sale price and your forever home.

City dwellers escaping to the country in record numbers

City dwellers are ditching their poky housing in droves by prioritising quality of life and more affordable housing ownership options in regional Australia. The result has been a surge in demand, lower supply and a material rise in house prices in regional towns since early last year.

And with 1 in 6 Australians eying off a move to the country - at least according to recent responses from PIPAs property investment survey - demand for regional housing stocks is set to soar.

Think about it, you’ve been working in a cramped workstation in a city high rise office, and living in close confines already, when suddenly you go into lockdown. Simmering feelings of claustrophobia are amplified if you also have a WFH partner and home-schooled kids. Your only escape is the crowded supermarket to fight over pasta and toilet paper. It’s little wonder more and more people are off to greener (or sandier) pastures. 

The trend towards small town living has been further fuelled by record low interest rates and Reserve Bank Governor Phillip Lowe committing to leave rates lower for longer at a paltry 0.1% for at least three years. That’s translating to home loan rates around 2.5% with some fixed rates sub-2%. There’s almost never been a greater incentive for house price growth in the history of the Australian economy, and city dwellers are cashing in.

The Gold Coast has seen prices up an eye-watering 25% in parts like glitzy Miami Beach. The Sunshine Coast has gone further with rises of up to 46% in some towns. Noosa has always been a favourite with Melburnians flying north in Winter, and this year demand was stronger than ever with real estate sites reporting an average of 1218 web hits per property and record price growth.

So, a lot happening in our part of the world. If you want to secure a foothold in our own slice of paradise, book a strategy call today.

It's true, in Australia bigger is better (home sizes, that is)

Well it seems all those Netflix series on tiny homes and minimalist living hasn't put a dint in Australia's love of large homes.

According to recent research from CommSec, Australians are building the biggest houses in the world - averaging 235.8 square metres. And we're bucking the trend, with even US average house sizes shrinking in recent years.⠀

And it's not just house sizes, with even the size of the average Australian apartment increasing by 6 percent over the past year, hitting a decade high of 136.8 square metres.

The latest increase in house sizes has been put down to the effects of the pandemic - with us all spending more time at home, and craving our own space more than ever!

We think it could also have something to do with #theblock effect creating demand for butler's pantries, mud rooms and home theatres.⠀

What do you think? Are you dreaming of a bigger home, or could you handle something smaller?

Get in touch today if you want help upgrading.