Current Market Update
MARKET REPORTIn the past week, numbers at our open homes were strong and they continue to grow. Buyers are willing to make purchase decisions and there is simmering competition for properties evidenced by the numbers of bidders registering at our auctions.
A quick poll of 20 agents in our office asking who was working on an offer revealed that most had offers in the pipeline at the moment or had submitted an offer in the past week. These are all encouraging signs of life in a market that has had the media kicking the life out of it. There is no question that sentiment has been negative and there have been some bargains on the market, however I can only report that there is a light at the end of the property market tunnel as buyers return to the market
ADVICE TO BUYERS: Find the property you like, make your offers confidently up to the price you are prepared to pay for that property. If the offer is accepted, congratulations you will have bought well, if it is not accepted, move on to the next property.
ADVICE TO SELLERS: Signal to the buyers you are serious about selling, properties doing this currently are getting more of the buyers and more offers. Do this by promoting your property through serious advertising or auction. If the market does not meet your price expectations then discuss a strategy with your Agent. Remember it's a great market if you are prepared to meet it.
RENTAL MARKET REPORT
It was only a few months ago that the rental market was running hot, it has now returned to more sustainable levels.
We have seen that excess "for sale" stock has moved across to the rental market increasing the number of properties available and taking the heat out of the rent increases that were happening. Our property management team, led by Victoria Lawrence are still leasing and re-leasing property successfully but there is definitly more available for lease.
The market is in balance and tenants can find quality property, while landlords should not be experiencing lengthy vacancies.
Open Home Times
For this weekends open home times CLICK HERE
RENTAL MARKET REPORT
It was only a few months ago that the rental market was running hot, it has now returned to more sustainable levels.
We have seen that excess "for sale" stock has moved across to the rental market increasing the number of properties available and taking the heat out of the rent increases that were happening. Our property management team, led by Victoria Lawrence are still leasing and re-leasing property successfully but there is definitly more available for lease.
The market is in balance and tenants can find quality property, while landlords should not be experiencing lengthy vacancies.
Open Home Times
For this weekends open home times CLICK HERE