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Current Trends That Are Driving Up House Prices

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A range of factors are powering Australia’s real estate market right now – If you’re a homeowner and thinking of selling, then the cards are stacked in your favor. But as any dealer will tell you, it’s how you play your cards that’s important, not the hand you’re holding.

If you’re interested in capitalizing on the current seller’s market, we’d be delighted to discuss the price trends and how we can market your home to get a great price.

In the meantime, here is a list of current trends that are driving up house prices across Australia:

  1. Multi-generational living is becoming popular for busy families needing extra help from grandparents and families who are simply trying to get more for their money, or capitalise on dual income potential: If your home has a granny flat or can accommodate two or three generations, it can reach outstanding price levels in the right circumstances.

  2. Working from home has had a huge impact on people's requirements when searching for their new house, with ‘home office’ moving from a desirable feature to an essential one. Buyers looking to reinvent their lifestyle by working from home will pay a premium for this feature.

  3. Re-location - with the continuing effects of Covid, people are reflecting on their current living situations and choosing to move for a number of different reasons. Some families are choosing to embrace country lifestyles, leaving the city for fear of disease transmission or simply for more space to endure lockdowns. 

  4. Lastly, no travel means the younger generation are choosing to enter the market earlier than normal and consequently driving up the demand for first homes.

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