May 2017 Director's Desk
Monday 29 May 2017
Things are changing
Okay. It’s time to talk. There is definitely a change in the air and it isn’t just the chill of the oncoming Winter. There is no reason to panic but I think it is important for our clients to be mindful.
For many months now I have been determined to counter hysteria that the market was doomed. I have been persistent in outlining the underlying strength that exists in the residential property market and the incredible strength we have seen week after week, month after month, in buyer demand.
I have continually encouraged vendors to seize the opportunities that exist and to assure buyers the incredible trajectory of growth in value of residential property in Sydney is the solidest foundation on which to make a decision to buy.
None of that has changed.
What our team is now seeing is the intensity of market activity. Buyer numbers are starting to ease, and whilst the auction clearance rate remains very healthy achieving those positive outcomes can never be guaranteed.
Now I always aim to tell it like it is and I think it is very important to be very clear to vendors at this point in the market. Be mindful of the change in the market. It is at this point where it becomes vital to ensure expectations are set based on a realistic analysis of current buyer interest.
Listening to the market as it stands today, rather than automatically assuming it will be the same as it was yesterday, will ensure vendors secure the best possible price for their property.