PK Property Purchases $40M worth of property in October
Well it hasn't been doom and gloom for everyone, but probably more so for vendors than buyers, as the PK Property team powered through October getting some cracking bargains for our clients.
Yes it is a 'two-speed market' with the outer Western Suburbs vendors struggling to find buyers, and their properties averaging 72 days to sell.
Whereas, properties 10km out of the city that offer all the features of an A-Grade property are selling within their auction campaigns for good, but not great prices.
There's no doubt the run up till Christmas in this property market will offer some incredible bargains, as vendors and agents will be motivated to sell to avoid coming back on the market again next year, in what will be an uncertain market in specific areas.
The reason we are purchasing a lot of property at present, is because the buyers are getting mixed messages from the agents and need honest, independent advice on what a property is really worth in this market. The last 12 months that I have been negotiating and purchasing properties for my clients has been very fruitful, and I do believe that this will continue into 2019. This will be my last property market update for 2018 so wishing everyone a very Merry Christmas, and a sensational 2019.
PK'S Sydney Property Market Predictions
I think 2019 will be a little like 2018, but I am also predicting that certain areas will start to stabilise with the majority of the downturn happening in 2018.
So yes my favourite saying at the moment is 'the froth has come off the coffee and now we are looking at the coffee itself.'
PK'S Hot Property Tips
There are plenty of opportunities in this present market, but you really do need experience to value them correctly and negotiate them for you. As mentioned above, a good Buyer's Agent is worth their weight in gold at present. So feel free to give me a call directly on 0419 200 018 for a confidential chat in regards to your next property purchase.
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