Hello all.
This report is to provide you an update on the current state of the Waterloo apartment market as we exit the winter season and welcome spring just around the corner.
At Beere Property, our commitment is to deliver and help interpret our on the ground market insights to assist you in making informed real estate decisions.
Sales Market Highlights: In the past three months, we’ve witnessed a strong surge in demand for 2 and 3 bedroom apartments in the Waterloo area.
This surge has led to notable price increases and reduced time on the market. Notably, a significant driver of this demand is the shift of tenants towards ownership, driven by the desire to escape escalating rental costs. Tenants with stable employment and strong borrowing capacity are increasingly recognizing the financial benefits of homeownership over continuing to rent.
Conversely, the market for 1 bedroom apartments has exhibited softer demand over the same period. We believe this is attributable to several factors:
- The prevailing majority of buyers are owner-occupiers. We are seeing a shortage of investors in the market who often favour 1 bedroom units.
- The evolving landscape of remote work has prompted an uptick in demand for properties with additional space, such as a home office or guest room.
- A relatively balanced supply of 1 and 2 bedroom apartments exists, yet the demand for 2 bedroom units remains notably higher.
Market Insights: The Waterloo rental market continues to very perform well, boasting low vacancy rates and sustained demand. While the peak demand for rental apartments occurred around May, a gradual normalization has been observed during the winter months. We anticipate that the trend of increasing demand will persist throughout the remainder of the year, driven by continued migration and in pressure the inner city. I have recently written a blog on how immigration is impacting the rental market link: A Comprehensive Analysis Of Waterloo, NSW Real Estate Market: Supply And Demand Trends
Should you require a more detailed analysis tailored to your specific property or investment goals, please don’t hesitate to reach out. We are dedicated to providing you with comprehensive market insights and assisting you in achieving your real estate objectives.
