Real Estate

Navigating 2023’s Real Estate: Mid-Sized Markets Outshine COVID Boomtowns

Published

2 years ago

January 4, 2024

Fred Wilson

Navigating 2023’s Real Estate: Mid-Sized Markets Outshine COVID Boomtowns

Introduction

Hi, I’m Fred Wilson, a real estate broker and market researcher with over 10 years of experience in the industry. I help buyers and sellers find the best deals and opportunities in the ever-changing real estate landscape.

In this article, I’m going to share with you some of the latest trends and insights that I’ve gathered from analyzing the data and observing the patterns in 2023’s real estate market. Specifically, I’m going to focus on why mid-sized markets are outshining COVID boomtowns and what that means for you as a broker, buyer, or researcher.

What are COVID Boomtowns and Why are They Losing Steam?

COVID boomtowns are the cities and regions that experienced a surge in demand and prices during the pandemic, as people sought more space, affordability, and quality of life. Some of the most notable examples are Austin, Boise, Nashville, Phoenix, and Salt Lake City.

These markets attracted a lot of attention and investment from remote workers, tech companies, and millennials, who were looking for a change of scenery and a lower cost of living. However, as the pandemic subsides and the economy recovers, these markets are facing some challenges and risks that are slowing down their growth and momentum.

Some of the factors that are affecting COVID boomtowns are:

Supply and demand imbalance: The high demand and low inventory in these markets have driven up the prices to unsustainable levels, making them less affordable and attractive for buyers. According to Zillow, the median home price in Austin increased by 37.2% year-over-year in March 2023, while the inventory dropped by 69.7%. This creates a bubble that could burst if the demand declines or the supply increases.
Competition and saturation: The popularity and hype of these markets have also attracted a lot of competition and saturation from other buyers, sellers, and investors, who are bidding up the prices and reducing the profit margins. According to Redfin, the share of homes that sold above list price in Boise reached 83.5% in March 2023, up from 38.9% a year ago. This makes it harder and riskier for buyers to find a good deal and for sellers to stand out from the crowd.
Quality and diversity issues: The rapid and uneven growth of these markets have also raised some concerns about the quality and diversity of the housing stock, the infrastructure, the amenities, and the community. According to Realtor.com, the share of new construction sales in Nashville fell from 24.4% in 2019 to 18.9% in 2021, indicating a lack of supply and variety of new homes. Moreover, some of these markets have also faced some social and environmental issues, such as gentrification, congestion, pollution, and natural disasters, that could affect their livability and appeal.

Image by: https://www.realestate.com

What are Mid-Sized Markets and Why are They Rising?

Mid-sized markets are the cities and regions that have a population of between 250,000 and 1 million, and that offer a balance of affordability, opportunity, and quality of life. Some of the most promising examples are Chattanooga, Des Moines, Fayetteville, Reno, and Spokane.

These markets are emerging as the new hotspots in 2023’s real estate scenario, as they offer some advantages and benefits that COVID boomtowns lack or are losing. Some of the factors that are boosting mid-sized markets are:

Value and potential: The lower prices and higher appreciation rates in these markets make them more valuable and attractive for buyers and investors, who are looking for more bang for their buck and more room for growth. According to Zillow, the median home price in Chattanooga increased by 16.9% year-over-year in March 2023, while the inventory increased by 8.9%. This creates a sweet spot that offers both affordability and opportunity.
Innovation and diversification: The economic and demographic diversity and dynamism in these markets make them more resilient and adaptable to the changing needs and preferences of the post-pandemic era. According to WalletHub, Des Moines ranked as the 8th best city for innovation in 2022, while Fayetteville ranked as the 4th most diverse city in the U.S. in 2021. This makes them more appealing and relevant for a variety of buyers, sellers, and industries.
Quality and sustainability: The moderate and balanced growth of these markets make them more sustainable and livable, as they preserve and enhance the quality and character of the housing stock, the infrastructure, the amenities, and the community. According to U.S. News, Reno ranked as the 22nd best place to live in the U.S. in 2022, while Spokane ranked as the 9th greenest city in the U.S. in 2021. This makes them more enjoyable and desirable for residents and visitors.

How to Find the Best Opportunities and Avoid the Pitfalls in Mid-Sized Markets?

As a real estate broker, buyer, or researcher, you might be wondering how to take advantage of the rise of mid-sized markets and avoid the pitfalls of COVID boomtowns. Here are some tips and strategies that I recommend:

Do your homework: Before you enter or exit a market, make sure you do your research and analysis, using reliable and updated data and sources. Look beyond the headlines and the hype, and dig deeper into the fundamentals and the trends of the market. Compare and contrast different markets and segments, and identify the strengths, weaknesses, opportunities, and threats of each one.
Be flexible and creative: As the market conditions and consumer preferences change, you need to be flexible and creative in your approach and strategy. Be open to exploring new and different markets and niches, and be willing to adapt and adjust your expectations and goals. Use technology and innovation to enhance your efficiency and effectiveness, and to create value and differentiation for yourself and your clients.
Build relationships and networks: One of the best ways to succeed in any market is to build strong and lasting relationships and networks with the local stakeholders and influencers, such as agents, brokers, lenders, appraisers, inspectors, contractors, developers, and community leaders. These connections will help you gain access and insight into the market, and provide you with referrals and recommendations that will boost your reputation and credibility.

Summary and Conclusion

In conclusion, 2023’s real estate market is witnessing a shift in the balance of power and performance, as mid-sized markets outshine COVID boomtowns. These markets offer a combination of affordability, opportunity, and quality of life that COVID boomtowns lack or are losing. As a real estate broker, buyer, or researcher, you need to be aware and prepared for this change, and use the tips and strategies that I shared with you to find the best opportunities and avoid the pitfalls in these emerging markets.

I hope you enjoyed reading this article and learned something new and useful. If you have any questions, comments, or feedback, please feel free to contact me at fredwilson@realestate.com. I would love to hear from you and help you with your real estate needs.

Thank you for your time and attention. Have a great day and happy house hunting! 😊

Informative Table

Market	Population	Median Home Price	Year-over-Year Price Change	Year-over-Year Inventory Change	Zillow Home Value Index
Austin	2,295,303	$575,000	37.2%	-69.7%	10.0
Boise	749,202	$525,000	32.8%	-71.1%	9.9
Nashville	1,989,519	$385,000	12.1%	-50.6%	8.7
Phoenix	4,948,121	$375,000	17.6%	-59.5%	8.9
Salt Lake City	1,247,642	$475,000	15.8%	-68.8%	9.2
Chattanooga	579,683	$275,000	16.9%	8.9%	7.9
Des Moines	699,292	$225,000	10.8%	-48.1%	7.6
Fayetteville	546,353	$250,000	13.6%	-38.5%	7.7
Reno	486,060	$450,000	14.2%	-59.1%	8.8
Spokane	573,493	$350,000	20.7%	-55.6%	8.5

Author

Fred Wilson

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Housing

First Home Buyers Agent Brisbane: Guide to Your Dream Home

Published

17 hours ago

April 8, 2026

edwinjpatrick

As a prospective homebuyer in Brisbane, navigating the local real estate market can be a daunting task, especially if you’re new to the scene. With property prices on the rise, it’s not uncommon for first-timers to feel overwhelmed by the complexities of financing, negotiations, and due diligence. However, having the right guidance can make all the difference in securing your dream home on the best possible terms.

This is where Buying in Brisbane comes in – a dedicated team of experts committed to empowering first home buyers and investors with expert advice, local insight, and unwavering representation. As your trusted champions in securing the perfect property, they’ll guide you through every step of the buying process, ensuring you purchase with confidence and without regret.

Understanding the Landscape for First Home Buyers in Brisbane

The Brisbane property market is constantly evolving, with prices rising and falling in response to various factors, including economic trends, population growth, and government policies. According to recent data, the median house price in Brisbane has increased by over 10% in the past year alone, making it even more crucial for first-time buyers to understand the local market dynamics.

So, what makes the Brisbane property market so attractive to first-time buyers? Here are a few key factors to consider:

Affordable prices: Compared to other major Australian cities, Brisbane’s property prices are relatively more affordable, making it an attractive option for first-time buyers.

Growing demand: As the city continues to grow and develop, demand for properties is expected to increase, driving up prices and making it essential for buyers to act quickly.

Government incentives: The Queensland government has introduced various incentives to support first home buyers, including stamp duty concessions and grants.

Choosing the Right Agent: A Matter of Trust

When it comes to buying your first home, working with the right agent can make all the difference. With their extensive knowledge of the local market, Buying in Brisbane can help you:

Find the perfect property: Their local expertise ensures that you’re exposed to the best properties in Brisbane, tailored to your specific needs and budget.

Negotiate like a pro: With their negotiation skills and market knowledge, they can help you secure the best possible deal, saving you thousands in the process.

Avoid costly mistakes: By avoiding common pitfalls like overpaying for a property or missing out on hidden costs, you can ensure a smooth and stress-free transaction.

The Buying in Brisbane Advantage

When you work with Buying in Brisbane, you can expect a level of service that’s tailored to your unique needs and goals. Here are just a few ways they can help:

Personalized attention: As a small, boutique agency, Buying in Brisbane can provide a level of personalized attention that’s hard to find with larger, more impersonal agencies.

Local knowledge: With a deep understanding of the local market, they can guide you through even the most complex buying process.

Expert advice: From financing to due diligence, Buying in Brisbane can provide you with expert guidance every step of the way.

Real-World Examples of Buying in Brisbane in Action

Don’t just take our word for it – here are a few real-world examples of how Buying in Brisbane has helped their clients secure their perfect properties:

Rachel and Michael: First-time buyers from the city, Rachel and Michael wanted to purchase their first home in a Brisbane suburb. Buying in Brisbane helped them navigate the local market, securing a beautiful 3-bedroom home in a highly sought-after area.

David and Emily: First home buyers from Brisbane, David and Emily were looking to upgrade from their rental property. Buying in Brisbane helped them secure a stunning 4-bedroom home in a prime position, with a significant discount from the asking price.

High-Impact Methods for First Home Buyers in Brisbane

By following these high-impact methods, you can secure your dream home in Brisbane like never before:

Research, research, research: Understand the local market dynamics, including prices, trends, and demand.

Get pre-approval: Secure pre-approval for a mortgage before starting your property search.

Work with a dedicated agent: Partner with Buying in Brisbane to receive expert guidance and personalized attention.

Don’t be afraid to negotiate: With the right guidance, you can negotiate like a pro and secure the best possible deal.

By following these methods and partnering with Buying in Brisbane, you can purchase your first home in Brisbane with confidence and without regret.

Conclusion

As a First Home Buyers Agent Brisbane, it’s essential to have the right guidance and support to navigate the local market. By working with Buying in Brisbane, you can secure your dream home on the best possible terms, while avoiding common pitfalls and costly mistakes. With their dedicated team of experts, local knowledge, and expert advice, you can feel confident in your decision-making process. So, what are you waiting for? Contact Buying in Brisbane today and start your journey to homeownership in Brisbane.

Author

edwinjpatrick

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Real Estate

Fully Managed Landlord Services: Save Time, Stress, and Money

Published

6 days ago

April 3, 2026

Tariq

Owning rental property can be rewarding, but it also comes with responsibilities that can be time-consuming and stressful. This is where fully managed landlord services come in. By hiring a professional management company, landlords can enjoy peace of mind, save time, and reduce stress, while ensuring their property is well-maintained and profitable. In this guide, we explain everything about these services, their benefits, and how they work.

What Are Fully Managed Landlord Services?

Fully managed landlord services involve hiring a property management company to handle all aspects of renting and maintaining your property. These services cover everything from marketing your property to collecting rent, dealing with tenants, and handling maintenance issues.

Instead of managing your property yourself, a professional team ensures that your investment is cared for efficiently and legally.

Key Services Offered

A fully managed service usually includes:

Tenant Sourcing and Screening
Management companies find tenants, conduct background checks, and verify references. This ensures reliable tenants who pay on time and take care of your property.
Rent Collection and Accounting
The service handles monthly rent collection, issues statements, and can even manage arrears. This reduces financial stress for landlords.
Maintenance and Repairs
Any maintenance issues, from plumbing to electrical problems, are handled by the management company. They often have a network of trusted tradespeople for quick repairs.
Legal Compliance
Landlords must follow various laws, including gas safety, electrical inspections, and deposit protection. Fully managed services ensure your property complies with all regulations.
Property Inspections
Regular inspections keep your property in good condition, identify issues early, and ensure tenants are following lease agreements.
Tenant Communication
Management companies handle tenant queries and complaints, saving landlords from constant calls and emails.

Benefits of Fully Managed Landlord Services

1. Save Time

Managing a rental property yourself can take hours each week. From handling repairs to chasing rent, it’s a full-time commitment. Fully managed services free you from daily tasks, allowing you to focus on other priorities.

2. Reduce Stress

Dealing with difficult tenants, legal issues, and unexpected repairs can be stressful. A professional management team takes care of these challenges, giving you peace of mind.

3. Financial Efficiency

Management companies ensure timely rent collection and proper accounting. They also help maximize rental income by advising on rent levels and property improvements.

4. Legal Protection

Non-compliance with landlord laws can lead to fines or legal disputes. Fully managed services ensure your property meets all legal requirements, reducing liability.

5. Better Tenant Retention

Professional management improves tenant satisfaction through prompt maintenance and clear communication, leading to longer tenancies and fewer vacancies.

How to Choose the Right Fully Managed Landlord Service

Choosing the right management company is crucial. Consider these factors:

Experience and Reputation: Look for companies with a proven track record and positive reviews.
Range of Services: Ensure they cover all aspects of management, from tenant sourcing to legal compliance.
Fees: Understand the fee structure and ensure it aligns with the services provided.
Communication: Choose a company that provides regular updates and is easy to reach.
Local Knowledge: A company familiar with your area can better manage rental rates and tenant expectations.

Costs of Fully Managed Services

Fees vary depending on location and the level of service, but typical charges include:

Management fee: Usually 8–15% of monthly rent
Tenant sourcing fee: One-time fee when a new tenant is placed
Maintenance mark-up: Some companies add a small percentage to repair costs

While these fees may seem high, the time saved, stress reduced, and legal protection often outweigh the costs.

Common Misconceptions

Some landlords hesitate to use fully managed services due to misconceptions:

“It’s too expensive” – In reality, it can save money by reducing vacancies and avoiding legal penalties.
“I’ll lose control” – You remain the property owner and can set guidelines; the company handles the day-to-day.
“I don’t need it for one property” – Even a single property can benefit from professional management, especially if you live far away.

Conclusion

Fully managed landlord services are a smart choice for property owners who want to save time, reduce stress, and protect their investment. From tenant management and maintenance to legal compliance and rent collection, these services cover every aspect of property management.

By hiring a professional management company, landlords can enjoy peace of mind, ensure their property is well-maintained, and maximize rental income. Whether you own one property or several, fully managed services are a valuable investment that makes renting easier, safer, and more profitable.

FAQs

1. What are fully managed landlord services?
They are professional services that handle all aspects of renting and maintaining your property.

2. Who can benefit from fully managed services?
Any landlord, whether owning one property or multiple, especially those with limited time.

3. What services are included?
Tenant sourcing, rent collection, maintenance, legal compliance, inspections, and tenant communication.

4. How much do fully managed services cost?
Typically 8–15% of monthly rent, plus possible tenant sourcing fees or maintenance mark-ups.

5. Can I remain in control of my property?
Yes, you set guidelines while the company handles day-to-day tasks.

6. Are legal issues covered?
Yes, management companies ensure compliance with landlord laws and regulations.

7. How does tenant communication work?
The company manages all tenant queries, complaints, and notices.

8. Can fully managed services increase rental income?
Yes, they advise on rent levels, reduce vacancies, and ensure timely payments.

9. Do I need fully managed services for a single property?
Even one property can benefit from professional management, especially if you’re busy or live far away.

10. How do I choose the right company?
Check experience, reputation, service range, fees, communication quality, and local knowledge.

Author

Tariq

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Real Estate

Western Australia Apartments 2026 — Perth & Gold Coast Outlook

Published

2 weeks ago

March 25, 2026

johanliebert

Western Australia’s apartment market is experiencing a remarkable renaissance in 2026, with Perth leading the charge as one of Australia’s strongest-performing property markets. With 71 per cent price growth over the last five years and significant government investment in transit-oriented development, the Sunshine State’s western capital offers compelling opportunities for buyers seeking brand new apartments.

Palmyra West: Coastal Living Meets Modern Design

One of the most significant projects to launch in 2026 is Finbar Group’s Palmyra West development, which has already achieved more than 70 per cent pre-sales across its 130 apartments, representing approximately $67 million in value. Located on a 13,540 square metre site at 47 McGregor Road, this boutique development comprises four low-rise buildings offering one, two, and three-bedroom apartments designed for modern coastal living.

Situated just four kilometres from Fremantle’s vibrant cafés, shops, and beaches, Palmyra West provides a connected lifestyle without compromising on comfort. Residents will enjoy premium onsite amenities including a heated swimming pool, poolside cabana with barbecue facilities, residents’ lounge and games room, gymnasium and sauna.

Significantly, buyers purchasing during the pre-construction phase can benefit from a substantial stamp duty concession of up to $50,000, depending on the apartment’s value. With only a $5,000 deposit required to secure an apartment and no further payments until completion, this offers an accessible entry point into Perth’s desirable southern corridor. Construction is slated to commence in March 2026, with estimated completion in mid-2027.

Wellard Station: Transit-Oriented Living

The Cook Labor Government has sold five strategic development sites opposite Wellard Station, paving the way for 111 new apartments and community infrastructure in Perth’s southern corridor.

Yaran Property Group recently purchased the 10,793 square metre landholding. The group plans to transform the site into four medium-density apartment buildings. These buildings will offer a diverse mix of one-bedroom and two-bedroom units.

In addition to housing, JCP Developments proposes a new childcare centre for the site. This facility will support local families while boosting the overall amenity of the Wellard town centre. Both projects benefit from an ideal location near the Wellard Square Shopping Centre. Because of this, future residents will enjoy easy access to essential services and direct rail connections to the Perth CBD.

Furthermore, the developer expects to begin construction on the apartments in the first quarter of 2026. This timeline directly supports the government’s commitment to infill development near transit hubs. By placing housing close to transport and services, the project strengthens the local community’s infrastructure.

Scarborough’s Ambitious Build-to-Rent Proposal

A developer recently lodged a significant application for a 26-storey build-to-rent tower at 200 West Coast Highway in Scarborough. This project carries an estimated value of $130 million. Rowe Group, acting on behalf of Meadpoint, intends to deliver 246 new apartments. The mix includes 160 one-bedroom units, 65 two-bedroom units, and 21 three-bedroom residences. Furthermore, the plan dedicates 37 of these apartments to affordable rental rates for at least 20 years.

Future residents will enjoy premium amenities like a co-working lounge and a rooftop swimming pool. The facility also includes a gymnasium, a function room, 222 car bays, and 256 bicycle bays. Additionally, a ground-floor retail tenancy completes the luxury offering. The public consultation period for this development officially closes on 15 March 2026.

Crawley Riverfront Luxury

SKS Group recently acquired a Crawley apartment building at 6 Wingfield Avenue for $14.5 million to satisfy demand for premium riverfront living. The group plans to renovate and convert the existing structure into ten luxury apartments. These exclusive residences will offer panoramic views of the Swan River.

The developer intends to bring these homes to market during the second quarter of 2026. According to CBRE, demand for premium apartments in Crawley remains exceptionally high. This interest stems from the suburb’s lifestyle appeal and its proximity to the CBD. Moreover, the location sits conveniently near the Swan River and the University of Western Australia.

Mos Lane: Mosman Park’s Architectural Statement

Designed in collaboration with award-winning architecture firm Nelson + Koo, Mos Lane at 46 Manning Street will feature 68 apartments, townhomes and penthouses with panoramic views across Perth’s prestigious western suburbs. Interiors by Melbourne-based Hecker Guthrie ensure intelligent, considered design for all life stages, with features including sculptural joinery, shady terraces, generous balconies, and multi-purpose room options providing ultimate flexibility.

Residents will enjoy indoor and outdoor communal dining spaces, a communal guest suite, a residents’ workshop and equipment store, a dedicated pet wash and car wash station, and best-in-class boutique retailers in the Mos Lane village. Builder Icon Construction has been appointed, with an estimated completion in late 2026 and a final opportunity to save 50 per cent on stamp duty.

Investment Outlook

With government support for transit-oriented development, significant infrastructure investment, including the new $860 million Edith Cowan University City Campus, and strong buyer demand across price points, Western Australia’s apartment market offers compelling opportunities in 2026. Success lies in focusing on quality projects by reputable builders in locations with strong fundamentals—proximity to transport, amenity, and lifestyle. From coastal Palmyra to riverside Crawley and thriving suburban centres, 2026 delivers an exceptional range of brand new apartments across Western Australia.

Gold Coast: Coastal Luxury Beckons

The Gold Coast’s development heat continues rising, with medium-density projects now accounting for two-thirds of development across the city. International development company SPG Land has kicked off construction of the $1.5 billion Paradiso Place in Surfers Paradise, one of the highest value developments to get underway on the Gold Coast in more than a decade. Located on a 1.15ha site stretching from Surfers Paradise Boulevard to Ferny Avenue, Paradiso Place will deliver 845 residences across three towers of 41, 40 and 44 levels, with each tower boasting its own podium level interconnected by a skybridge, creating a unique elevated ‘beachside village’. Two-, three- and four-bedroom apartments start from $950,000, with most offering ocean views and five-star hotel amenities.

In Broadbeach, Harmony on Broadbeach has raced to 75 per cent sold just months after launching. This 33-storey tower by Gold Partners Australia, located 400 metres from the beach, offers two- and three-bedroom apartments with a dedicated wellness offering including a 20-metre swimming pool, spa, sauna, gymnasium and yoga lawn. Construction commences in Q2 2026 with completion targeted for late 2028.

At Kirra Beach, Immerse Projects has filed a nine-storey proposal comprising 65 apartments at 5-7 Haig Street. Designed by BDA Architecture, the scheme incorporates “a soft coastal colour palette, generous ocean-oriented balconies, deep recesses that articulate the facade, and fixed privacy screens” . Amenities include a lap pool, spa, cold plunge pools, gymnasium, and working-from-home spaces.