A young real estate agent reveals the trends she’s noticed in the industry and why some of them make her feel “uncomfortable.”
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Mrs. Hill She lives in Western Australia. After running a dress rental business, she realised she had a knack for selling.
The 25-year-old was inspired after watching Selling Sunset After her father-in-law suggested that she would be perfect for the job.
“I’m a beginner,” she told news.com.au.
But having a fresh perspective has its benefits. It’s only worked in a hot market. According to PropTrack, prices in Perth have risen 20% in a single year, and nationally prices have risen by about seven per cent since May 2023.
In this market, it is not uncommon for 30 or more people to come to view a newly listed home.
It’s competitive, but Ms. Hill also notes that people are “afraid” of getting into the market at the wrong time and worry that they’ll look back and find they overpaid.
The 25-year-old is new to his agent business. Photo: Instagram/ellie_hilll
Ellie Hill has already noticed some trends. Photo: TikTok/ellie_hillll
It’s really “difficult” for anyone to enter the market now, especially young people, Ms Hill said.
She said there are a lot of people who are out of the market right now because of the high prices, which is “inconvenient.”
Ms Hill said it was a “difficult time” for young buyers, and she had noticed Sydneysiders increasingly buying local property because it was more affordable than what was on offer locally. The average house price in Sydney is more than $1.5 million and in Perth it is $665,000.
“We have people from Sydney buying investments here,” she said.
In Perth at least, young people are not completely excluded from the market, and Ms Hill says she often works with buyers in their 20s.
“The Perth market is completely different, so you’re in a [where] “You will not be completely taken out of the market,” she said.
She explained how she ended up buying her own home. Photo: TikTok/ellie_hilll
She said more people from Sydney are choosing to buy in Western Australia. Photo: TikTok/ellie_hilll
However, the 25-year-old noted that there aren’t “a lot” of affordable options for young people, and yes, those high-wage FIFO workers are taking up a lot of real estate.
“FIFO workers have the ability to purchase property somewhat more easily,” Ms. Hill said.
“But I still say that hardworking people, like most of my friends, are in a position to buy. The fear is that they will overpay and then not find value, and that’s what people really fear.”
She also noted that young people entering the market come with a “good deposit.” She’s not sure how much help younger buyers get from their parents, but she acknowledged that the “support” of the baby boom generation helps.
Mrs. Hill can relate to the purchase because she and her partner bought a plot of land together this year.
She said the couple had been considering buying in 2021 but thought the market was too “expensive”, a decision they now regret.
“We thought it was too expensive when the places were around $500,000, and now these homes are going for $800,000, so we knew we needed to get into the market,” she said.
She shared her success selling online. Photo: TikTok/ellie_hilll
She said young people in Perth were still able to enter the market. Photo: TikTok/ellie_hilll
The couple faced several difficult situations, but in the end the offer they made in the suburb they wanted to live in was rejected.
“I really suffered,” Ms. Hill said. “I fell in love with something and then my heart was broken.”
The couple stuck to their guns, and while they never changed their neighborhood, they did change their strategies. They ended up buying a plot of land because they found it much less competitive than bidding on a property.
“Ultimately, we couldn’t compete with buyers anymore. We ended up buying the land so we could build exactly what we wanted,” Ms. Hill said.
Thinking outside the box is the way to get on the property ladder at the moment. Ms Hill said she had noticed people “broadening their horizons”.
“They were saying no to something six months ago, and now they’re saying yes to it. If you’re a seller, this is a great time to sell because people will say, ‘I love it,’ but it wasn’t what they originally wanted,” she said.
