We have recently witnessed an unprecedented scenario unfold, with 13 consecutive interest rate hikes implemented by the Reserve Bank of Australia within an 18-month timeframe. The strategy aimed to curb inflationary pressures and cool a potentially overheated market. However, despite a dip in consumer confidence, Bayside property defied economic forecasts.

This resilience can be attributed, in part, to the strength of the downsizer market. Mortgage-free homeowners and those with minimal debt were largely unaffected by the rising interest rates, allowing them to continue participating in the property market. This is in stark contrast to the younger generations who are facing affordability challenges reminiscent of the 1990s.

We continue to see homes with exceptional attributes, such as superior floor plans, curb appeal, optimal orientation and desirable locations, attracting high demand and competitive bidding. A key factor shaping Bayside's housing market is the enduring popularity of renovations that preserve the charm of period homes while seamlessly integrating modern extensions.