As we return from our holidays, we begin looking to the year ahead and what it will bring to the property market. Here are the properties buyers will be scrambling for in 2017.
D’Leanne Lewis, principal of Laing+Simmons Double Bay and Bondi Beach, said her first prediction was a rise in local property investors and new home buyers, outnumbering the foreign investors that have been flooding the market.
Ms Lewis said the property must-haves for 2017 will reflect this trend; she predicted that properties suited to families will fly off the books.
“2017 property buyers are on the hunt for the quintessential ‘village lifestyle’. As time becomes more precious, close proximity to shops, facilities, schools and green spaces top the list. Buyers want to cut down on travel time, reduce the need to use transport, and they’re willing to pay for it. Sellers’ homes that meet the mark are set to take top dollar at auctions and sales this year,” said Ms Lewis.
Another must-have for 2017 buyers can be found in the style of the home, with spacious layouts being favoured over pokey rooms and dark spaces.
“Open-plan homes with plenty of kitchen and living room space, separated areas for entertaining and bright, airy outlooks are also marked to fetch premium prices,” said Ms Lewis.
Sydney’s suburbs to watch in 2017 are Bronte, Double Bay and Rose Bay, according to Ms Lewis; all of which match her predictions on ‘village lifestyle’ and being close to both green spaces and infrastructure.
Her final prediction is around forward thinking – gone are the days of home buyers expecting to move for every life event.
Ms Lewis said buyers have grown wary of the market and know once they purchase a home they are likely to be priced out of others they may want down the track, so they’re buying for keeps.
“We’re going to see a real shift towards homes being purchased for longevity; home buyers are willing to pay that little bit extra for a home they’ll be happy in for the long run. People aren’t looking for a home to flip in a few years, they want a home to grow old in, and they’re making sure it has everything they need,” said Ms Lewis.