It’s not new
Wednesday 08 Aug 2018
I’ve thought a lot about what to write this week. Most weeks I find the topic comes easily. I talk property every day and feel this blog is a way to present my thinking on issues, ideas, advice, anxieties, successes, warnings and wishes around all things residential real estate that I hope are interesting and informative. This week deciding on a topic has been different…
This week I just couldn’t decide.
I started writing how again the experience, energy and communication of the Morton sales team achieved a 100% auction clearance on the weekend. It was a great achievement worthy of recognition. It’s worthwhile talking about because it shows that auctions are still working to achieve good sales outcomes.
I then started writing about the mood. I don’t mean to sound like Donald Trump whinging about the media but they do have a tendency to seize any hint of property negativity and push it so hard that it creates a force of its own. Not accurate and not helpful so I thought I’d try to counter that negativity with a bit more reality. It is definitely tougher out there in the market but it is a very long way from hopeless. Real estate always requires participants to be conscious of current market conditions and the current conditions are still delivering results.
Sydney is still one of the most expensive places to buy real estate. We have experienced continual price growth for over five years so even with a so-called ‘dip’ in the market there are still a great many vendors who are achieving solid value growth because they bought early in the growth cycle. At the same time there are many buyers keen to enter the market now that the heat has come off a little.
Then I realised I’ve written about both those points before. Damn. My aim is to present positions that are fresh and information that’s interesting, so what value is there in repeating myself?
But the thing is, right now those two points really ARE the most important concepts to keep repeating and keep top of mind. They’re not new, and that’s the whole point.
As much as I’d like to be different the best advice I can give to buyers and vendors is quite simply to keep going. Our team will work with you to help you navigate the changing market but it is important to know that the fundamentals remain the same.