Is it a bounce?
Wednesday 29 May 2019
Regardless of political persuasion I think few would argue the surprise election result last week has been widely considered positive for the property market, with many not anticipating an immediate bounce in activity. Is that realistic?
To be perfectly frank, despite the positivity that surrounds the concept, I loathe the idea of a ‘market bounce’ almost as much as I do a ‘market bubble’. Navigating ever-changing market conditions is fraught enough for buyers and vendors without adding yet another element of expectation into the mix.
Needless to say, I’m not here to claim a bounce in the market on the back of the election. I will claim that auction strategies and hard work will drive results. And I have the facts to prove it.
This week Morton hosted another of our exclusive Quarterly Auction night at Domain HQ with 10 properties initially scheduled to go under the hammer. These properties were located across Sydney and across all price brackets, represented by agents from Morton’s offices from the suburbs to the sea.
Seven of those properties were sold in the week prior and of the three presented on auction night, two sold under the hammer.
That is an incredibly successful result.
And remember, our auction night was obviously scheduled long before the result of the election was known so the success is due to much more than a Liberal election victory.
The great outcome is the culmination of thorough preparation, pristine presentation, carefully executed marketing campaigns and sheer hard work by our team. They left no stone unturned in their quest to find the right buyers for these properties who were prepared to pay the right price and their work was driven by the urgency created by the auction campaign.
What I’m saying is that regardless of a bounce or a bubble our team know how to seize every opportunity to drive the best deal.