Peter Diamantidis, Principal of Ray White Diamantidis Group in St Marys NSW, brings his passion for real estate to this weeks’ episode of Property Insights.
With more than 20 years experience in both management and sales, Peter specialises in properties in the Western Sydney region, with an interest in development block and off the plan developments.
His broad experience and consummate professional knowledge make him a sought after property commentator, with contributions to many media platforms including National Nine News and Sunrise Channel 7.
Mark and Peter discuss where the market is at after the RBA’s latest rate rise, where it might be headed, and when the best time may be to act, whether you’re looking to sell before future rate hikes or just entering the market.
Key Takeaways:
- The property market in some areas is currently hot, with high demand and increasing prices. Focus is increasing on the St Marys region due to significant job growth and socioeconomic shift in the area as well as its future status as a transportation hub after the announcement of the upcoming airport.
- Market focus is primarily on houses, as more first-time homebuyers move into the area, although townhouses and apartments are also performing well. Investors are attracted to larger blocks of land that are available in the region for development, and, Peter notes, attractive yields ensure demand for rental properties remains high.
- The market is highly competitive, with multiple offers on properties, short listing times, and a significant number of pre-registered buyers. Peter and Mark discuss how the agency utilises a large client database and a variety of effective communication strategies to secure sales and anticipate market trends in this fast-paced environment.
- At the moment Peter sees vendors looking to consolidate assets, leading to a slight increase in properties available. Peter predicts that while current prices should remain consistent, we may see a further increase in sales if interest rates continue to increase.
