Buyer’s Agents Discuss How to Find a Bargain in Today’s Real Estate Market
Australia is one of the largest countries in the world, but despite its huge size it is also one of the most sparsely populated. With a total of 24 million inhabitants calling the country their home, this might seem like a large number; but when comparing the entire region to places like London, which has over 9 million residents, and the USA where almost 325 million people live – you might begin to see why the land down under is still considered a quiet retreat for those with the cash to relocate.
As a result, the Australian property market has recently undergone an incredible expansion, with both national and international buyers alike wanting to purchase and relocate.
But as the market is now in such high demand, prices have shot up by several hundred percent over the course of the last two decades alone – and this now considered one of the main barriers blocking people from around the world from upping the population. Where other countries are experiencing a decrease in house prices and so are undergoing rapid influxes of new inhabitants; Australia seems to be balancing itself with a combination of fewer and more expensive homes to choose from.
How to find a bargain in today’s real estate market
With that in mind, it’s important to note that the types of properties that are undergoing increases in value are typically within city centres, or are suburban and fetch a higher price in most cases. What this means is that if buyers are willing search a little further afield, then it can be entirely possible to find a very cheap property and still take advantage of the Aussie lifestyle and all that it encompasses.
Searching the outback
According to research, the Australian outback plays host to hundreds of homes that come complete with their own plots of land and boast very affordable asking prices. These are the types of bargains that new home buyers can look for – but as they are pretty out of the way when compared to more urban residencies, they won’t always appeal to everyone. For those that are after peace and quiet however, the option to venture away from the city centres can be a very appealing one.
Hiring a buyer’s agent
Another great way to find out about bargains as and when they enter the market, is by turning to the services offered by a buyer’s agent. These specialists often work on behalf of a buyer and are tasked with taking care of the bidding process as well as negotiating the cost of a property with the seller and other useful features. By hiring a buying agent, they may be able to notify a first time buyer when a new home comes onto the market and if it’s suitable, there’s no harm in placing an offer and making a purchase as soon as possible to avoid the competition.