Spring might not Spring
Well, welcome everybody to another Spring property market. Once again agents are whinging that there is nowhere near enough stock available for the Spring of 2018, which in turn will cause the 'A Grade' property market in certain areas to stabilise, or rise a little.
With interest rates at an all-time low, and now on hold for 25 months in a row from the RBA, I think the property market is just going to bubble along exactly how it is for at least another 12 months.
However, I think this is a good thing for buyers and sellers, as to buy and sell in the same market in most cases makes a lot of sense.
Remember to be careful of the media giving one blanket Sydney auction clearance rate, as this can be very misinforming as you can see below in this graph.
There are so many markets moving within markets, so make sure you research on what area, price range and product you are looking for, as you might be surprised how well that product is going in contrary to what the media is saying.
You can find this graph above at the start of each week from Dr Andrew Wilson, Chief Economist at My Housing Market posted on his Linkedin page.
PK's Property Market Predictions
I actually think we might have a little kick in the market this Spring, as I am getting calls left, right and centre from buyers saying that they think it's a good time to buy.
PK's Hot Property Tips
When a property passes in, be patient! You don't always have to negotiate the property directly after the auction, but in most cases it does make sense when everyone is motivated to do it right there and then if it's priced right.
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