Reports sent weekly from surveys conducted within our industry are consistent with what we as a company are seeing in the marketplace. Market Commentator and Economist Tony Alexander talks about the volume of buyers available within our region who are cashed up ready to go but there is a serious shortage of new stock to the market.
Last week I spoke about sellers thinking that spring (September) is the right time to come to the market - when your property is looking at its absolute best and the survey comments back up my thoughts. Now is the right time to come to the market if you are thinking of selling! It’s that old supply and demand thing – when the supply is low but the demand is high, you are more likely to get the best price.
Our auction room last week saw great results for 10 of 19 sellers who sold on the day with a couple of other properties receiving conditional contracts immediately after the auctions. The first home buyer market is also firing along – low interest rates and fewer restrictions on LVR (Loan to Value Ratio) mean buyers are active. The investor market has also seen a fair amount of action with some lenders changing the LVR requirement allowing a much smaller deposit.
So spring is just around the corner, the days are getting longer and despite many predicting the real estate market would take a tumble, but at the moment, the opposite seems to be true. Let us assist you on your next move.