The 2024 Real Estate Market and the Real Level of Value

In the age of online market places and the abundance of readily available information within the real estate industry, what we have seen post Covid is an increase in a “do it yourself” approach for both Vendor and Purchaser alike.

In short, the writer questions this method of transacting within the current real estate market of 2024 for a number of reasons, but more so the accuracy and reliability of what I believe is the “smoke and mirrors” of the industry and the era of social media. We have, as an industry over the short term, created a dynasty for brand names that seemingly lead market forces through this method of sales and marketing, without much caution or trepidation as to the “back story” and litmus test of the sale/s under consideration.

As such, we are now witnessing a large disparity of both results and opinions as to the true level of a property’s value. Simply, why did an intending purchaser pay the price, was it simply a “DIY”, or was there method to the price paid.

Over the years, we have continually seen both the Vendor and Purchaser tempting market forces and not knowing of the complexities of what exactly is the true current market value of a property, but rather rely on generic marketing and price expectation, and most probably, from a large percentage of property participants that are simply unqualified. This method has allowed many participants to transverse the markets pre 2024, but serious consideration should now be given to the variance currently within the market and at play.

If you are contemplating sale and/or acquisition, please call the undersigned for a free initial consultation. By doing so you are dealing with a qualified professional in hand able to achieve your desired results.

To discuss any property related matter, please contact Mark Ruttner, Managing Director
mr@fvg.com.au 0411 419 674

First Valuation Group
Suite 110/181, St Kilda Road, St Kilda, Victoria, 3182
valuations@fvg.com.au