Market settling in 2018. Some great buying until then!
Well it's been a busy time for the PK Team, trading nearly $50 Million worth of property over the past 4 weeks.
A grade property seems to still be trading strong, and B grade not too far behind but weaker than 6 months ago, and C grade property has come off quiet substantially.
So overall we have had an adjustment in the marketplace of somewhere in the 5 to 15% range and yes, we needed it. Vendors will come into the market a lot more realistic next year, because at present they are still being unrealistic wanting 2016 prices.
The volumes have increased because of Spring, but they are still down considerably year-on-year since 2010. Agents are reporting February 2018 listings are still low, but believe we will enter into a market where vendors will be a lot more realistic in what they will take for their home than they have been in 2017. I do think that 2018 will be the year that the buyer will have more say in what they pay for a property and the vendor will listen.
Well it's 20 years this year since I brought the concept of Buyers Agency to Sydney, and what a ride it has been. I would like to wish everyone a safe, happy and blessed Christmas, and once again thank you for all your support over the last 20 years.
PK's Property Market Predictions
As always, there are some great buys from here until February 1st. As mentioned above, I do think it will be the year of the buyer in 2018, but my only concern will be if stock tightens up, I do see the market holding its own and firming up.
PK's Hot Property Tips
If you see something you like at present, put in a really low offer as it's the perfect storm right now to get a bargain.
Vendors want to close things by the end of the year and so do agents. I am saving clients more than I have for 5 years at present, so if you need a hand closing that deal before Christmas give me a call on 0419 200 018 to discuss your confidential needs.
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