Winter market should be fairly steady
The winter property market should be 'steady as she goes' as listings start to dry up and demand should start to override supply. Interest rates are low, unemployment is low, and that's what drives a property market up, and when it comes off that's what stabilises it.
The competition is just not as strong as it was 12 months ago, therefore instead of 10 people bidding at an auction there is now 3 or 4 and in most cases only 2 buyers really want it, and that's what ultimately brings prices down when number 3 and 4 are not pushing the number 1 and 2 buyer hard.
But only one person can buy the property, and if at auction you get two people that really want it, that's when the price goes nuts.
And that is still happening in certain buying demographics especially the downsizer market, as they have timelines and big budgets, and if they see something in an area at a stage in life where they want it and they want it now, so that's why that end of the market is holding up well.
PK'S Sydney Property Market Predictions
The winter market will be really tight for new property as vendors hesitate and push for more confidence in selling in a spring market.
PK'S Hot Property Tips
Don't miss our FREE upsizing/downsizing seminar at 6:00pm on the 25th of June at Killara Golf Club!
To attend the seminar, RSVP here to ensure you don't miss out as seats are strictly limited.
If you would like to receive PK's Sydney Property Market Updates, hot investment tips, and much more please subscribe here. Or call one of our Buyer's Agents today on (+61) 2 9960 1066 or email us so we can help you find you the right property at the lowest possible price.
Also don't forget PK'S 2 min video tutorials on you tube showing you the latest hot tips and negotiating tricks.