Prices will continue to rise in Spring should stock be low
Well, as I write this market update, 80 percent auction clearance rates have just been achieved over the weekend, and our team at PK Property have just purchased $25 Million dollars' worth of property for our clients in August! However, please note that stock is still low, but that can be common for this time of the year, and there is no doubt that new property in quantity will start to emerge over the next 4 weeks.
Agents are reporting huge numbers at open inspections, but they are also reporting that buyers are still hesitant, and are not rushing in offering silly money on properties in the hope that more choice will arrive come spring.
Finance is definitely easier to get now, but the time to get pre-approved is very frustrating, so make sure you have got it locked down before your property search begins.
With money being cheap, and predicted to get cheaper, I think our property market will start to slowly bring itself out of a coma by the end of the year, and the next couple of years will be boom time.
PK's Property Market Predictions
The market seems to be flying along very nicely, and I think the only thing that will slow it up will be if the stock levels stay low in Spring. My prediction is that the stock levels could be lower than usual for this Spring, so don't get too picky thinking the grass is greener on the other side and miss out on a great opportunity.
PK's Hot Property Tips
My biggest tip at present would be to get your finance in place now ready for the Spring pulse, and also make sure you do your due diligence on price because the market is firming up, but still all over the place in certain areas.
Call me directly today on 0419 200 018 to ensure you are buying the right property for the right price in this current market.
My biggest tip at present would be to get your finance in place now ready for the Spring pulse, and also make sure you do your due diligence on price because the market is firming up, but still all over the place in certain areas.
To check out more of our market updates, hot investment tips and negotiating tricks, click here for our home buyer advice articles or call one of our Buyer's Agents today on (+61) 9960 1066, or email us so we can help you find the right property at the lowest possible price.
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