Teamlink Founder expects units to outperform houses now the RBA is hiking
Walton Chu, Founder & CEO of Australian proptech Teamlink, expects units to outperform houses now the RBA is hiking.
“Auction clearance rates are down – as are new listings – so the property market was already cooling before this week’s interest rate rise,” says Chu.
“The big benefit of apartments is relative affordability,” he continues. “The price gap between houses and units is already the biggest on record.”
With rental vacancy rates also being at historic low levels, Chu believes units are a great choice for investors, particularly now the borders are opening up again and overseas investors are also coming back to the market.
All of these factors put together mean that real estate agents are likely to find the listings market getting a lot more competitive.
“With many property vendors being educated and savvy, real estate agents need the best digital tools to tap into all sources of buyer demand and streamline their process to reduce manual effort,” says Chu. “And that’s the big benefit of our Teamlink platform because it connects everyone in the end-to-end sales process in real-time.”