Leading the Change
Publisher, entrepreneur, property expert and Principal of Belle Central Coast, Cathy Baker, is a household name if you live here on the Coast and throughout the real estate world across the country. We sat down with Cathy who maintains the number one spot in luxury listings on the Coast and asked what the future of the property market looks like.
That isn’t just because she has won multiple awards, such as Real Estate Executive of The Year, or regularly makes the top 100 agents nationally, it is because she has deep, genuine connection to the community, founding a local charity that works tirelessly across sponsoring and supporting multiple community members and events monthly.
When it comes to selling top end houses, Cathy has the ability for thinking outside the box, as we have seen recently in her marketing approach to listing luxury properties. Cathy and her team engaged international model, TV presenter and mum Laura Csortan and celebrity Interior designer and Belle Magazine Style Director at Large, Steve Cordony. Appearing in campaign collateral and across social media, Cathy worked with the personalities to gain hundreds of thousands of potential new buyers.
WHAT HAVE YOU LEARNT THESE LAST FEW YEARS SINCE COVID HIT US AND INTEREST RATES HAVE CONTINUED TO RISE?
I have noticed the shift in more people valuing their lifestyle and time with family. There was a huge shift from the Sydney market particularly buying holiday homes on the Coast to now living a dual lifestyle between Sydney and the Coast. The lower levels of property on the market over the last 6 months has also helped to ensure the property market recovered in this last quarter and quickly recovered from the initial fall in prices earlier this year.
AS A HOMEOWNER MYSELF ON THE COAST THAT HAS WATCHED THE PRICES RISE AND FALL, WHAT CAN WE EXPECT TO SEE OVER SUMMER?
We are seeing an abundance of properties looking to come to market over spring and summer . The buyer demand currently is still strong , but that may slow down at the end of the year. Vendors looking to sell need to ensure they have an experienced agent to navigate them through the changes in the summer market and adapt their strategy.
WHAT IS THE OUTLOOK FOR THE AUSTRALIAN PROPERTY MARKET FOR 2024 AND BEYOND?
Predications are that we will see a fall in interest rates in 2024 and a stabilisation of the market over the next two years. International buyers are showing strong signs of growth, with an influx of holiday home buyers showing this avenue of investment as a primary focus.
HAS OUR MARKET REALLY BOTTOMED OUT?
All indications are that we are the through the worst of the market, however an oversupply of houses over summer could be a concern. Many people held off selling over 2023 and with many coming off fixed interest rate loans the pressure to sell quickly is apparent in some areas.
WHAT ARE YOUR TOP TIPS WHEN THINKING OF SELLING A HOME – WHERE DOES ONE START?
It is important to ensure you consult an experienced agent with a strong track record of results, but also someone who can curate a bespoke marketing angle for your property to ensure it stands out from the crowd. Your agent should be someone who strives to get you a premium price not someone who is just interested in getting it sold.
WHY IS IT A GOOD IDEA TO BUY INVESTMENT PROPERTY ON THE CENTRAL COAST?
Having a 10 year lifestyle plan to think about your goals for the next 10 years is the key to thinking about a long term investment strategy. Looking at plans for retirement, and how your super can increase wealth and lifestyle are all important factors to look at before making any decisions about investment. A lifestyle plan to share with your accountant and financier is a great tool to use.
Words by Colette Harvey.
