TENANT OF THE MONTH

Gallus & Rea

Albury and Wodonga kerrie@gallus-rea.com.au gallus-rea.com.au

Gallus & Rea supply beautiful custom furniture pieces that are carefully selected from Australian and International manufacturers, to be enjoyed locally.

Whether you’re buying, building, entertaining or renovating, Kerrie Burzacott and the team at Gallus & Rea share all the passion for regional living. When it comes to stylish living, they appreciate the detail in good design, softer furnishings and layered textures to create a classically beautiful home.

Kerrie created Gallus & Rea from a love of curating her own look and feel for her home, an appreciation she shares with her clients. The business has operated for over 6 years and has showrooms in both Albury and Wodonga. With a wealth of experience in furniture, textiles, interior design, styling and a true love for people and their homes, you’ll find Kerrie and the team selecting quality collections and brands just for you.

With an extensive range of Molmic, IMG and Stressless seating, carefully selected homewares, along with a number of beautiful floorstock and in stock models ready to take home, you will be sure to find the perfect piece for your home.

With a focus on both functionality and comfort, you can experience world-leading comfort with an extensive range of lift chairs and powered recliners also available.

Gallus & Rea’s passion for beautiful pieces, industry knowledge and eye for detail makes selecting furniture a personal experience.

2023 is now in full swing, with the kids settled into the new school year and work conditions returning to normal. The local real estate market is now presenting great opportunities for both those looking to sell, as well as those seeking to purchase, following the 8th interest rate rise since May last year.

Whilst not as boisterous as late 2021, and the beginning of 2022, the level of activity at auctions and open homes remains quite resilient at this stage, with an average of 12 inspections per open home per property. The average sale price in Albury currently sits at $775,000, which is consistent with the average sale price 12 months ago, whilst the median rent return is $480 per week, up almost 8% compared to this time last year.

When considering purchasing your own home, as opposed to waiting to see if the market changes and continuing to rent, it is worth considering that the latter could cost you over $20,000 per annum in rental payments, as opposed to using this money to pay down your own mortgage. With recent changes to interest rates, it is crucial that buyers who have obtained finance approval in the past, re-establish their approval as their borrowing capacity may have changed.

The average number of days on market currently sits at 44, providing property owners with confidence that the market and property turnover is still proving consistent.

As we progress into 2023 and the market returns to normal, we are seeing many properties sell before official marketing begins, which was quite common pre-covid. It can therefore be beneficial registering your buying criteria with an agent, to be kept informed of properties that may not be on the open market.