There are two sides to the real estate market that we have recently become very aware of. Boom and Gloom. Post covid we saw the spectacular and frenzied boom market from late 2020 to early 2022. It was a spectacular time of high demand and price rises.

In the industry, we talk about “market cycles”. A cycle suggests something round, a circle or a clock if you like. However, the best description in my mind of those crazy days is that the cycle went so mad, it almost became egg shaped! It really felt like it had gone out of whack.

As Isaac Newton is so frequently quoted, “what goes up, must come down” we stood steadfastly by our beliefs that in Real Estate this gravitational law does not apply. Oh How wrong were we?

Yes, prices and demand have both retracted noticeably over the last couple of years. Buyer numbers dropped dramatically as confidence took several leaps backward.

What Mr Newton may have been referring to is the number of properties sold. In the ‘boom’ times we would have seen twice the number of houses being sold as we do today. Where volumes went up, they definitely came back down!

I am pleased to say that the ‘white waters’ of market change are now smoothing out. The shift in the market has settled and normality is coming back at a very pleasing pace. Two months into the 2025 market we are seeing the usual growth in properties coming to market for the season and we are receiving relatively normal numbers of buyer enquiries. Recently our team has had some amazing results at our EVES Auctions with 63% Being sold at Auction or going into contract immediately following. Multi offers have been surprisingly frequent. Something not seen for a long time.

What to watch out for? First home buyers are still a strong pool of buyers active in the market. However, investors are coming into the market now too. This will mean that what follows is the natural progression and transition up the market value ladder. This will happen more and more as the year progresses. Previous first homers will upgrade to second homes and then second homers will migrate to their third home or ‘forever’ homes. By spring, I believe we will see the entire spectrum come back into action.

So, bye bye to the gloomy days, hello to normality. Theres no rush, no boom, but confidence in the air as we stroll along with a balanced market ahead.

Call an EVES specialist salesperson today to have a chat. Our team are always happy to have a confidential no obligation conversation about your aspirations. They can guide you through the best strategy to make your next move the best move in this market.