5 Property Market Trends to Watch for

Last few years have been pretty eventful for the property industry. Not only did we get to see a number of new property market trends emerge, but it seems like the changes in the modern way of living have had a huge impact on the entire industry. Still, the question weighing heavily on everybody’s mind is ‒ what are the most popular property market trends to watch for at the moment? With that said, here are five of them that are guaranteed to make a lot of noise in the next couple of years.

Affordability still being important

While higher end properties are still in demand, it seems like the property market is shifting towards more affordable options. Wages are still relatively stagnant and more and more millennials are looking to buy homes for them and their family. They are targeting areas with high amenity such as schools, hospitals, and public transport. Still, young homebuyers are often priced out, especially when buying property in large cities. This is why, in the US, young homebuyers are more interested in cities like Detroit, Charlotte and Minneapolis. More affordable properties are sought after at the moment and investing in them makes a lot of sense.

Home loans becoming harder to get

Some people believe that obtaining a home loan is relatively easy. However, if the last few years have shown us something, it’s that lenders have started to ask for more documents and take more time to approve a home loan. Moreover, they spend more time working out the living expenses of the family and try to figure out whether they’ll be able to pay off the loan in a specific period of time. This greatly reduces the borrowing power and homebuyers are often required to opt for a less expensive home in order to be able to obtain a loan. This trend seems to be growing anywhere from the US to Australia.

Display homes being on the rise

More and more homebuyers want to know how their home will look before they start building it. This is exactly why display homes gain a lot of attention lately and we can expect to see a lot more of this type of homes being built in the future. Display homes have been extremely popular among Australians and those who want to invest a lot into their new home are not taking any chances. There are experts who offer luxury display homes in Sydney and turning to them in 2019 is a no-brainer.

More investors interested in build-to-rent

Many young people still haven’t decided where they want to live or move, often due to work, which has led to rental properties being more sought after. In fact, 2019 is expected to be the year when the concept of a building-to-rent becomes more popular than ever. We already got to see more investors building rental properties in cities like London, Tokyo and Miami, and this trend is only expected to grow in the next few years. If you’ve been thinking about investing in property rentals, this may be the perfect time to consider building your own or buying a property that has been specifically designed for renting.

Even more first-time homebuyers

For the past ten years, first-time homebuyers have been dominating the market and it doesn’t seem like this will change anytime soon. Not to mention that those who’ve been delaying buying their first home are reaching the age when they can no longer afford to do so. So, expect even more first-time homebuyers to be looking into the possibility of buying their own place in 2019. Those who have been holding onto their investments might also end up receiving more interest in their homes from this type of homebuyers.

Final thoughts

There’s no need to say that the property market is a volatile one and that there are plenty of aspects that the can determine what will happen in the future. The five trends covered in this post are going to stick around no matter what. Whether you’re buying a home for you and your family or you’re just looking to invest in a property, make sure you have them in mind when investing your money.