The Australian Financial Review Property Summit discussed the residential property market, housing supply, and the government’s housing fund. Economists predicted mixed views on the future of the market, with some predicting an increase in price due to low stock levels. However, an increase in listings is expected this year, although it is still uncertain whether prices will rise or fall. Successful auctions have occurred recently, with some properties selling above reserve, but others have struggled to attract buyers. The key to getting a good price is to price the property at a level that engages buyers and creates competition. This allows buyers to become emotionally attached to the property and drives the price up. Regardless of market conditions, this is always the best approach.
