One of the most significant impacts COVID has had on the Sydney property market is to increase demand for high quality lifestyle-focused housing. Many buyers are more focused on buying houses in areas which are easily accessible from business hubs and the city, and where they can also access conveniences like schools, cafes, restaurants and parks. COVID has highlighted to many that high density living comes with downsides which are not for everyone, and the market is reacting accordingly. As a result, demand for high quality house and land packages has been growing strongly.
As with all markets, the Sydney house and land market is influenced by demand for and supply of properties for sale. An imbalance appears to be building with the above-mentioned growth in demand not being met by similar growth in supply. There are many stories emerging of buyers taking drastic action to successfully purchase the house and land they are after in the face of intense competition. Some buyers have been forced to enter draws to buy house and land packages, whilst other buyers are lining up or camping out for days in order to secure their preferred house and land package.
As Landen’s Director Rashed Panabig explains: ‘You only need to attend a display home to see how many buyers are looking for house and land deals. We have noticed demand for our house and land packages such as our Rouse Hill properties is getting stronger and stronger. The supply of new properties, however, cannot be turned on like a tap, as it takes many years to create that supply. So, competition for buying high quality Sydney house and land packages is on the up and is likely to remain high in the coming years. That’s good news for those who move early.’