{"id":84532,"date":"2024-04-12T01:56:54","date_gmt":"2024-04-11T15:56:54","guid":{"rendered":"https:\/\/timesnewsgroup.com.au\/bellarinetimes\/?p=84532"},"modified":"2024-04-11T10:12:01","modified_gmt":"2024-04-11T00:12:01","slug":"q1-2024-property-market-update-with-olivia-swann","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/bellarinetimes\/real-estate\/q1-2024-property-market-update-with-olivia-swann\/","title":{"rendered":"Q1 2024 property market update with Olivia Swann."},"content":{"rendered":"<p><strong>WITH OLIVIA SWANN, SENIOR SALES CONSULTANT AT ONE AGENCY SURF COAST.<\/strong><\/p>\n<p>As the first quarter of 2024 drew to a close, our local property market showcased a vibrant and dynamic start, culminating in a bustling Easter weekend.<\/p>\n<p>January adhered to the typical trend, witnessing a standard number of property transactions.<\/p>\n<p>With 16 properties sold, this mirrored the figures from January 2023, underlining a consistent baseline across the 3228 postcode.<\/p>\n<p>February injected a notable surge in activity, boasting a noteworthy 131.25 per cent increase in sales compared to the preceding month, soaring from 16 to 37 transactions. This surge indicated growing momentum in the local market.<\/p>\n<p>As the quarter unfolded, we saw an influx of new properties entering the fray, with most Saturdays boasting over 100 open inspections.<\/p>\n<p>This abundance of choice empowered buyers with a diverse range of options.<\/p>\n<p>Across the entire quarter, we witnessed a commendable 77 sales, only marginally fewer than the 82 sales recorded in Q1 of the previous year (2023).<\/p>\n<p>This resilience underscores the stability of our market amidst evolving conditions.<\/p>\n<p>The median sale price settled at $1,230,000 for Q1, marking a slight decline from the previous quarter&#8217;s $1,292,000, and a further decrease from $1,340,000 noted in Q1 of the preceding year. These adjustments align with the fluidity of market dynamics.<\/p>\n<p>The steadying of interest rates in the last three months has bolstered buyer sentiment significantly.<\/p>\n<p>With concerns about continuous rate hikes alleviated, buyers are displaying increased confidence and readiness to proceed with purchases.<\/p>\n<p>Among One Agency&#8217;s sales in Q1, 29 per cent of buyers hailed locally, while another 29 per cent relocated from Melbourne. This marks a noteworthy decrease in Melbourne buyers compared to Q1 of 2021, when 48 per cent of buyers were relocating from Melbourne.<\/p>\n<p>As we gaze into the future, the local real estate landscape appears poised for continued activity and stability.<\/p>\n<p>Buyers are gaining confidence, yet they face the dilemma of choice amidst the multitude of available properties.<\/p>\n<p>However, as the adage suggests, &#8220;some choice is better than no choice!&#8221;<\/p>\n<p>For any real estate questions, call 0499 053 114.<\/p>\n<p style=\"text-align: right;\"><strong>\/\/SPONSORED CONTENT<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>WITH OLIVIA SWANN, SENIOR SALES CONSULTANT AT ONE AGENCY SURF COAST. As the first quarter of 2024 drew to a close, our local property market showcased a vibrant and dynamic start, culminating in a bustling Easter weekend. January adhered to the typical trend, witnessing a standard number of property transactions. With 16 properties sold, this [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/timesnewsgroup.com.au\/bellarinetimes\/real-estate\/q1-2024-property-market-update-with-olivia-swann\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":149,"featured_media":84533,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[19],"tags":[],"post_folder":[],"class_list":["post-84532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Q1 2024 property market update with Olivia Swann. - Bellarine Times<\/title>\n<meta name=\"description\" content=\"Explore the dynamic Q1 2024 property market insights with Olivia Swann from One Agency Surf Coast. 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