Is the Property Market Slowing Down?

Last week's auction results summed up the market, now and for this time of the year.  The number of auctions were half what they were six weeks ago, the clearances were just as high, many agents were reporting a lower number of buyers and stock levels are down, which is traditional.  All in all, the market has adjusted seasonally and as results have shown, year after year, the winter season is a fantastic time to buy and sell real estate. 
 

James’ thoughts:

• Yesterday I was looking down Victoria Avenue towards the shops at a skyline that is changing dramatically.   The DA has just gone in for two towers to be built on the Mandarin building site and the State Government is overriding Local Government on the height of approved towers.   Chatswood is certainly becoming a mini unit city.   Many buyers may not know there was a penthouse sale of over $4 million in Chatswood.
• During our renovations we installed a large fish tank with seven different coloured African Cichlid fish and it certainly reminds me of what a magnet fish tanks can be to people.  If you are thinking of putting one in your home there’s no doubt they add value, and are highly aesthetically pleasing.            
• The dollar is up and our Far Eastern buyers have pulled back slightly.