Now that we have officially emerged from the pandemic, there is a need for quality properties, and we have a heightened preference for liveability. As our priorities adjust, some buyers are willing to pay a bit more for properties with a 'pandemic appeal'; what I mean by this is that buyers want more space and security. However, it will not be the property as is that will need to adhere to these newly acquired needs; a liveable neighbourhood will also play a significant role. Most people now will pay a premium to live, work and play within a 30-minute drive, bike ride or walk from home. I believe they will be searching for business services, schools, shopping centres, sporting and leisure activities and jobs, all within a 30-minute reach. 

Residents of neighbourhoods, especially Cremorne, appreciate the ability to support local businesses, socialise within the community, be involved with schools, and enjoy local parks and sporting grounds. 

Last year when home values climbed not only in Cremorne but around the country, the media kept emphasising that we were in a property boom. The consequence was that emotions got high and fear of missing out was a frequent concept around the property market. Now that, generally speaking, the surge in our property market has slowed down, buyers are becoming fussier. There are still more buyers interested in A-Grade homes and investment-grade properties than properties for sale which will construct the market price moving forward. 

Some of the unrestricted buyers have pulled out of the market, but some people still need to upsize, downsize and require new homes due to marriage or divorce, whatever it may be, so property markets will always keep on. As you may have seen, the latest statistics show over $28 billion of finance was approved in September 2022, meaning new buyers are in the market. 

If you take away consumer sentiment, the housing and budget fundamentals are very sound. The surge in equity has been extraordinary for most property investors and homeowners, the career market is strong, and Sydney mortgage lapses are very low. 

I recommend that if you're in a financially sound position, you should not try and time the market but buy while others are sitting on the fence. 

Think about it:

• There is not much competition around.

• You have more time to conduct research and do your due diligence.

• You will have the upper hand in negotiations.