By Craig Heppell – Licenced Agent/Auctioneer
We have operated in an even market for about 18 months to 2 years after the red-hot sellers’ market came to an end around Mid-2022.
There are some indicators we could transition from an even market, with just enough stock (listings) for just enough buyers, to a buyers’ market – an increase in stock levels with no significant rise in buyer numbers to match.
If buyers have more properties to choose from, they have the leverage when it comes to picking the right home for them, taking their time to do so and having more say about what the eventual sale price will be.
Around 50% of all property buyer enquiries come from mainlanders. Particularly Sth Q, Regional NSW and VIC.
The buyers for THEIR properties are predominantly from Sydney or Melbourne.
So, if Sydney Siders and Mebournites take longer to sell and for less than they hoped for, it commences a domino effect that might, and I stress might, edge our local property market towards a buyers’ market.
More properties to choose from, means a stronger leverage position for potential buyers.
But IT IS NOT DOOM AND GLOOM!
If you are selling, then present and price your home to ATTRACT buyers from the get-go, it frees you to head out to buy in the same buyers’ market with the leverage you need to strike a great deal!
At Ulverstone Real Estate Karen and I cut our teeth in Real Estate during one of the worst times economically – The GFC!
The clients who followed our strategy came out winners nearly every time. Today is not GFC territory, but it will be unfamiliar and possibly concerning territory for those homeowners who may look to sell in a buyers’ market.
When the tide goes out in a particular market, it is likely heading the same direction in the market you want to move to.
Knowing when something is about to happen is far more powerful than sitting back, and wondering if it is going to happen.
As the posters says – “Stay Calm and Talk to Us” – Ulverstone Real Estate.