With the Spring housing market in full bloom, the number of local homes for sale has increased significantly, but it’s still nowhere near the levels seen in previous Spring selling seasons.
Now that the AFL Grand Final and the school holidays are in the rear view mirror, the local property market will now have a relatively distraction-free run up to the end of the year, apart from the odd horse race or two!
However, a look at the calendar and you’ll see there are only a few weekends left before buyers focus will shift from property to Christmas & holidays.
The unprecedented shortage of properties, in what is traditionally the busiest time means there is virtually zero chance of the Sunbury market settling down this year – despite all theories to the contrary.
People are tending to stay longer in existing houses because the associated acquisition (stamp duty and legal fees) and disposal costs are so high and therefore have become a strong deterrent to selling.
Additionally, due to low interest rates, high equity levels, and an overall fear of not being able to buy quickly enough, we are increasingly seeing people opting to sell after they have purchased. This shift in market attitude has and continues to contribute significantly to a reduction in overall stock levels.
These next few weeks are going to tell quite a story, I predict buyers will continue to fiercely compete for limited properties, increasing prices further especially in the lower end of the market.
For some locals, today’s market presents a once-in-a-lifetime opportunity to sell their home for the sort of money that could be truly life changing, and if you have plans to move in 2017, the window is still open, but you’ll need to keep an eye on your calendar.
Right now, any agent can sell a property but not every agent can push your sale price to the next level. It takes experience strong local knowledge and real negotiating enterprise to take your sale price from excellent to extraordinary.
For us it’s never how many how fast, instead we work tirelessly, to put our clients in the best possible position for the next chapter of their lives every single time – this is what makes us different.
If you need any help to get your property ‘market-ready’ or would like some experienced advice & guidance on getting your timing right – we are always happy to help.