BY BYRON FREEBORN, RAINE & HORNE WYNNUM
Just like the ebb and flow of the ocean with currents, tides and cyclones, the nature of humans when buying homes and investments is likely to follow similar physics – some of it follows patterns, while some of it tracks orderly chaos.
As an example, a recent sale of a villa attracted a frenzy of interest (well presented in a top location near Wynnum North’s Elanora Park), and it sold like hotcakes – it surpassed any previous sale of its kind in recent times. But why?
We styled it and had some Angus & Julia Stone playing at the open homes, but it was more than that: it was a sign of the times, a confluence of markets rolling into one point. Also, the term ‘rare as hen’s teeth’ came up at least four, maybe five times during the sale process. It had the simple factor of the supply/demand ratio being tipped in its favour.
Let’s look at the breakdown of the sale and its potential buyers.
We saw mature buyers, couples and singles looking for a small home in a secure complex on one level with a yard and leafy outlook – the ultimate downsizer checklist.
We had first-home buyers who perhaps ideally wanted a house, but to stay in the area within their budgets was proving unfeasible, so a home like a villa was just the ticket.
We saw professional couples who work hard, are time-poor and want less maintenance and the ability to lock up and go on holidays or trips away without worrying about a large house/garden. Some, in fact, from interstate, were simply looking to lock in a property and rent it out for the time being while they plan their escape from Sydney or Melbourne (both lovely cities, but who doesn’t like to reduce their mortgage?).