Real Estate Sales Projections 2024

June 19, 2024



Real Estate Sales Projections 2024

What a year 2023 has been! Record sales prices, never before heard of inspection rules, and properties being snapped up faster than you can list them. Hold onto your clipboards, people, because 2024 is expected to be just as prosperous. As our country begins a long journey into recovery, we continue to ride a wave of housing market booms with listings and clearance rates surging. In an environment where we have greater disposable income coupled with access to government grants, stimulus packages and low interest rates, you’re probably finding yourself inundated with enquiries, paperwork and maybe even feeling a little overwhelmed. SQM Research predicts that there will continue to be more buyers than sellers as the Reserve Bank of Australia will likely keep interest rates low for a long time. Yes, it’s certainly a great position to be in, but the question still begs, how are you managing?

Continued growth predicted for 2024

Whilst the outlook for Australian property prices in 2024 is certainly difficult to forecast, predictions are for property values to continue to rise in almost every market around the country. Our capital cities are in line for strong double-digit price growth. Over the past year, house prices in Sydney have risen over 24%, Melbourne 15% and Brisbane 20%. projects that whilst the influx of listings stock has cooled the market somewhat, selling conditions are still strong. There’s going to be a long tail to this boom – two to three years at least. Getting on the front foot is one sure-fire way to start 2024 off on a positive note. Real Estate Agents are turning to RESO, the online property sales platform, to not only reduce the stress of the sales process but to gain the RESO advantage.

Efficiency gains

We know when it comes to selling a property in Australia, it’s all about maximising the price. We all know that. Sure, it’s never been easier to sell a house now, but are you getting the best price? This is where you need to be able to manage multiple offers as efficiently as possible. One RESO client more recently received over 43 offers on one property. Managing that number of enquiries and processing the paperwork is almost unachievable without a platform that manages that.

Transparency gains

Reputation is also key in a highly competitive space and knowing you have a tool at your fingertips where clients and buyers can access documents on any given property including contracts, and building and pest reports, in their own time, is well, priceless. And if a prospective buyer is interested in submitting an offer, then they can do it online as well. Once again, there is transparency for owners, a process that shows legitimacy and credibility.

A crucial tool in a boom market

Agents using RESO are boasting successes like never before. A Queensland property with 90 registered buyers received a whopping 186 total offers; the fastest offer was received within 1 min and 10 seconds and the maximum offer increase was a significant $101,000. All this within a week of the property being listed. How do you manage this volume of offers and make sure all buyers are happy? Another agent listed 4 properties on RESO over a two-week period and was blown away with the result. 197 registered buyers and 129 unique offers. These statistics are just the start. Not only does RESO help with the entire end to end process but it connects you to buyers across the country, allowing for a seamless and almost effortless transaction. And that leaves you with more time to do what you do best. If you are looking to get on the front foot and expand your reach, further grow your reputation and capitalise on what is projected to be another positive year in property sales, contact the team at RESO to stay ahead of the game.


Rachel Coulter

Thank you and untill next time!

Smart offer management

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