Market will fluctuate with supply and demand
Well everyone we are in full blown spring selling season at present and unfortunately agents are still reporting a lack of stock. That's the bad news, but the good news is the market seems to have lost a little of it's heat due to a little more stock coming on.
I do believe the Sydney property market is in for a soft landing moving forward, and the biggest complaint I am hearing from all parties at present is that same old, same old, no good quality stock available.
I think over the next 6 to twelve months vendors will feel a lot more comfortable selling before they buy, and that should loosen up the market a little.
I also think that vendors will be a lot more realistic on price moving forward because they will be willing to take a little less when they sell, knowing that they can make it up on the other side when buying.
I think it is a really good time to buy up until Christmas as they are talking about lowering interest rates again at some point, and i remember when they did this late last year the market ended up kicking up a notch when 2015 arrived.
It's interesting to note that when I purchased 46 Wolseley Rd Mosman for $4,180,000 and 34 Bradleys Head Rd, Mosman for $8.5 Million last month what my client's feedback was.
They both said to me that they were willing to take on more debt and buy the ten year plus dream home, due to the ridiculous stamp duties that they pay, plus all the cost and inconvenience of moving. In the scheme of things the market fluctuates 5 to 10 percent up and down in these price ranges, and it is important to take a long term point of view in regards to any investment you are involved in.
PK's Property Market Predictions
I see the market running warm to hot right up until Christmas in certain price ranges. If we do get another interest rate drop in November, and the stock doesn't come on in huge quantities the market will kick again like last year into 2016.
PK's Hot Tip
When bidding at an auction it really does pay to have a professional buyer's agent bidding on your behalf. A $550.00 investment could save you thousands of dollars, not to mention the stress and anxiety of bidding yourself.
Also don't forget PK's 2 min video tutorials on youtube showing you hot tips and negotiating tricks of the trade.