Saturday 21 Feb 2015
Now is a good time to get active, and no, I’m not talking about a New Year fitness regime!
As anticipated over the January holiday period the market did not slow down. Buyer enquiries remained very high but unfortunately available stock was limited.
It was the same this time last year. It seems whilst buyers retain their fervour to find the perfect property even over the holidays, vendors are more inclined to want to take a break. As a result the year begins with a critical lack of stock.
So the opportunity is there. The Australia Day long weekend officially marks the end of the holiday season; time to get back to school and back to business. That means those thinking of listing shouldn’t wait any longer.
I believe the next six months will continue to deliver strong results for vendors. I do anticipate a significant increase in listings in the next six weeks but the strength of buyer demand is certainly sufficient to absorb those listings without any dramatic impact on prices.
As always I caution vendors to be realistic about their price expectations. On the other side of the equation buyers should also not expect an increase in supply to increase their opportunity to negotiate a bargain.
The fact is the market doesn’t always have to deliver winners and losers. It’s actually more exciting when there is a state of equilibrium so everyone is happy and the next few months has real potential to deliver that outcome.