How to determine the real value of a property
By Bianca Dabu
23 February 2021
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1 minute read
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With various factors affecting market value and pricing, can one truly predict what buyers will pay for properties?
Despite several forecasts of double-digit growth for Australian real estate in 2021, Raine & Horne Group’s executive chairman, Angus Raine, said that predicting market value remains an “inexact science”.
According to him, market value ultimately “depends squarely on what a specific purchaser will pay”.
Moving forward, low interest rates, economic performance and government stimulus will certainly influence growth in value, but scarcity will be one of the biggest factors that will influence market value and pricing moving forward.