Welcome to The Marshall Group’s Monthly Property Market Update – January 2024

As we embrace the new beginnings that 2024 brings, The Marshall Group is delighted to introduce our inaugural Monthly Property Market Update. Through this series, we aim to keep our esteemed clients and the broader community informed about the latest trends and insights across the property market and the factors that influence it, both locally and nationally. Our dedication to empowering clients and enriching communities remains the cornerstone of our ethos. As we navigate through the evolving landscape of real estate, we are here to ensure you are well-equipped to make informed decisions, whether you’re buying, selling, or simply exploring the market.

Let’s embark on this journey together, keeping you abreast of the property market dynamics and economic indicators that matter most to you.

The Marshall Group

Celebrating decades of real estate excellence on Sydney’s Upper North Shore, The Marshall Group continues to stand as a beacon of unparalleled client service, community support, and professional insight. Our team, renowned for its collaborative spirit and innovative strategies, remains committed to enhancing your property experience. As we step into 2024, we extend our heartfelt wishes for a peaceful and prosperous year ahead, reiterating our commitment to not just meet but exceed your property aspirations.

Local Property Market

The local property scene on Sydney’s Upper North Shore has shown promising signs of activity as we begin 2024. A noticeable surge in open home attendees and contract requests indicates a revitalised interest in the market, and an increase in property listings. This uptick in engagement is a positive sign for both sellers and buyers, hinting at a dynamic market with opportunities for all. Our insights and strategic foresight position us perfectly to guide our clients through these evolving market conditions.

Sydney Property Market

According to CoreLogic, Sydney experienced a slight increase in dwelling values of 0.3% in January, an encouraging sign amidst a seasonally quiet month. This growth, although modest, suggests a stabilising market, with expectations of increased auction activity providing clearer insights into market performance. Our acute understanding of these trends ensures that The Marshall Group clients are always ahead of the curve, prepared to make the most of the market’s offerings.

Australian Property Market

On a national scale, the Australian property market is demonstrating robust signs of resilience, with distinct regions showcasing varying patterns of recovery. This resurgence is primarily driven by an uplift in buyer sentiment, signalling a gradual return of momentum within the market. As we delve deeper into 2024, we anticipate a stabilisation trend, leading to reduced volatility both in the property market and the broader economy. This steady environment is expected to foster confidence among buyers and sellers alike, paving the way for a balanced and sustainable growth trajectory in the property sector.

Economy Update

Amidst a backdrop of global challenges including high inflation, shifts in interest rates, and nuanced government fiscal policies, the Australian economy has demonstrated commendable resilience. This robustness is supported by strategic policy interventions and a gradual recovery in the global economic arena. Key economic indicators, such as employment rates, consumer spending, and investment levels, are signalling a cautiously optimistic outlook for 2024.

These pivotal economic factors are instrumental in shaping the property market, significantly influencing buyer and seller behaviour. A deep understanding of these dynamics empowers The Marshall Group to provide strategic advice, positioning our clients advantageously to seize emerging opportunities. We remain vigilant, closely monitoring these trends to offer our clients comprehensive insights that reflect the broader economic influences on the property sector. This vigilant approach ensures our clients are not only informed but also prepared to navigate the evolving market landscape.

In Conclusion

As we progress through 2024, The Marshall Group is dedicated to keeping you informed and empowered. Whether you’re considering a move, seeking to invest, or simply curious about the market, keep up to date with new listings, sold properties and the property market though our Weekly Market Wrap email, Monthly Property Market Update on our website and our Social Media pages for valuable insights and expert analysis.

Partner with us to navigate the complexities of the property market with confidence and clarity. We look forward to accompanying you on your property journey this year and beyond.

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