While the real estate market experiences cycles that closely follow the economic cycle, there is an unchanging core element: everyone needs a place to live. Whether it’s an apartment, a townhouse, a villa, or a house, this fundamental need creates a constant demand for property.
This ongoing demand for housing manifests either as buying demand or rental demand. When there’s rental demand, investors need to purchase properties for tenants. Consequently, between home buyers and investors, there’s a steady and continuous demand for real estate.
What fluctuates throughout the economic and real estate cycles is consumer confidence in the prices people are willing to pay. During a ‘boom’ period, buyers are confident that the market is on the rise and are willing to pay higher prices, expecting that prices will continue to increase. Conversely, in a market correction phase, buyers are more cautious and reluctant to pay those higher prices, anticipating the possibility of lower prices in the future.
Although everyone would prefer to buy during an upward market trend, it’s not always feasible. Ultimately, real estate transactions are driven by personal needs, such as relocating, upsizing or downsizing, and financial circumstances. Given that the real estate cycle typically spans 7 to 10 years, most people can’t delay their buying and selling decisions for a year or two to wait for the cycle to be in their favour.
With the strength of the Ray White brand, which boasts 122 years of experience in the real estate market, we offer unparalleled knowledge and expertise on the Northern Gold Coast. Our commitment is to provide clients with the best advice and outcomes for all their real estate transactions, whether buying or selling. Notably, the principal of our office has been recognized as Ray White Queensland’s Number 1 Agent for 2020/2021 and 2021/2022 and has been a Ray White Chairman Elite Performer since 2017.
Every industry has its newcomers and seasoned professionals, its less skilled and highly skilled practitioners. This is why there are numerous stories about the failures within our industry to deliver exceptional service or achieve the best results for clients. However, 60% of our business comes from repeat or referral clients, reflecting the trust we’ve built over the past 40 years with our experienced team of top operators. We’ve been recognized by various industry groups, such as the Real Estate Institute and the Gold Coast Business Excellence Awards and have held the title of No. 1 Ray White Group Internationally 20 times. Our lifelong goal is to be the very best in the industry.
Our team and resources are available to meet all your real estate needs. Feel free to reach out with any questions and consider us your trusted advisor before making any real estate decisions.
It may be many years before we see another brief boom period in real estate. Therefore, good strategy and planning are essential for making the most of the current market, especially here on the magnificent Gold Coast.
Once again, we are here for you so please reach out on 07 5577 9999 or via by email on sanctuarycove.qld@raywhite.com