Nothing to see here
Wednesday 01 Nov 2017
I have spent a good deal of time considering what to write in my column this week, because, to be perfectly honest there hasn’t been a lot going on. And I actually mean that in a good way! What I mean to say is the market has been quietly bubbling along nicely which is just the way we like it. It isn’t terribly newsworthy, but it is a very good situation for buyers and vendors.
I recognise that I have been saying the same thing for the last couple of months. The market is moving nicely. I also recognise that saying the same thing ad nauseum can be a bit tedious so when I prepare this column I endeavour to find new, interesting angles to discuss.
But in sitting down to contemplate the fact that for yet another week we have satisfied vendors and eager buyers, I decided that should be newsworthy enough. Because it continues to be the happy truth.
I acknowledge the official auction clearance rate as reported by realestate.com.au dipped again last weekend and there is potential for that to make vendors nervous as it is still considered by many an indicator of market activity. However.
Our team is still choosing auction as the most common method of marketing a property because it continues to be the platform through which to drive the best results. A significant proportion of those results are now being achieved prior to auction day which is the result of determined negotiating and savvy vendors recognising value.
It is also very pleasing that vendors are continuing to bring stock to market. It’s a good move because demand is still strong. It is also a great demonstration of the maturity of our market that buyers and vendors understand the underlying strength in the value of property. Motivation to buy and sell is not driven by headlines of record breaking results.
So there is nothing new to report. And I am not ashamed to report that.