Economic forecasts are swirling, leaving many wondering: “Is now the right time to buy a boat?” In Australia, despite some economic headwinds, boat ownership continues to surge. Buckle up, because we’re here to tell you why 2024 might be the perfect year to set sail on your dream boat!
1. Buyer Market
This first half of 2024 has been the best we’ve seen since pre-covid for buyers.
The frenzy of the past few years has seemed to calm, leading to a softening of used boat prices. Sellers who bought at peak inflation might be more willing to negotiate, especially as storage & berthing costs continue to add up.
The tide is therefore now turning in favour of boat buyers! With increased inventory, we’re seeing some great value on the books. However, interest rates are predicted to fall, and more buyers are entering the market, so these prime opportunities won’t stay afloat for long.
2. Boating is #Trending
Boat ownership in Australia has reached new heights in 2024, and the data suggests this will only continue. The demand for the yacht market is anticipated to increase with the popularity of luxury travel and sailing. As the nation continues to embrace the joys of water-based activities and boating, more Aussies are continuing to purchase boats, with pre-owned brokerages offering more affordable options for buyers.
The winter has provided a reprieve from the rain and brought beautiful sunny weather, the perfect time to head north out of cyclone season. So while the market is softening, get in now and have your dream boat in time for Summer.
3. Avoid New Yacht Waiting Times and Price Increases
The prices of new boats have been on the rise, and this trend is likely to continue. This is due to a number of factors, including the rising cost of materials, the increasing demand for yachts, and the supply chain disruptions. To save time and money we highly recommend buying a used yacht from a broker you trust.
Overall, the Australian boating industry is strong and growing in 2024. Australians’ keen interest in boating is driving a dynamic market, offering diverse options to cater to various boating preferences. Noteworthy is the industry’s commitment to innovation, enhancing affordability and accessibility, which bodes well for the future of boating in Australia.
Looking to buy?
A yacht broker can help you find the right yacht for your needs and negotiate the best price. Here at World Wide Boat Brokers we priorities making your buying journey stress-free and ensure you don’t make any costly mistakes. By applying decades of experience, we offer all the resources to find you your dream boat at the most attractive price for you.
Take a look at our current inventory here.
Or keep up to date with our listings here.
