Are Property Stock Levels Dropping Off?
I expect stock levels to drop off considerably between now and Easter and then I expect to see a bunch of new stock coming on straight after the ANZAC holiday. Also, please bear this in mind, over pricing by agents and under quoting by agents is still rife in the area. If you are having problems with this, do not hesitate to contact myself or the team and we will do our best to give you realistic price ranges.
Every time I think the market may have topped out, another amazing sale comes through. I see the RBA has made announcements about increases, maybe up to 4%, I guess that was always on the cards. Interest rates can only do three things: stay the same, go up or down and as everyone has said “it couldn’t go down further”, who would have thought we’d be at 2.5% now?
James’ thoughts:
- I’m still amazed that people, when choosing an agent, will side-step an agent with 20 years’ experience, achieving record after record, and go for the new kid on the block. They then turn around after the sale and say “well the process wasn’t very good, we lost buyers” and that sort of stuff. There is so much that can go wrong in the sale of a home and that’s when experience really matters.
- A property video will dramatically increase the amount of engagement and hits on the internet. It helps you stand out from the competition. You can do a property video for around $500 so this is something to consider when selling your property.
- Buyers, your time will come, I know you are not enjoying paying these prices, however if you can lock in a great interest rate then long-term I think you will be happy with your decision, otherwise sit this market out.
