PK Property purchases $65M worth of property for their clients in 8 weeks!
Well it's been a busy 8 weeks at Pk Property and in the real estate space in general.
Stock levels have been at an all-time low and so have interest rates, the two things that have pushed property prices up again, and I believe will continue to do so throughout the entirety of 2020.
There is no doubt that agents and vendors are getting more confident in the selling process, putting buyers in a more competitive situation.
From what I can see, buyers have definitely gone into panic mode as there is 3 weeks left for a vendor to list their property, and buyers honestly thought that Spring would bring an abundance of listings. However, unfortunately that just hasn't happened!
Even though the market is solid, most vendors are still choosing to sell their property 'off market', mainly due to cost of marketing, confidentiality and the hassle of open for inspections.
I think the hype around the First Home Buyers Scheme will be positive for the bottom end of the market, and that hype will transcend into the mid-tier market and then the upper end for 2020.
PK's Property Market Predictions
Well there is only one way from here in regards to the property market and that will be up. 2020 should see strong growth in most areas of close to 10 percent for the year if the economy keeps tracking like it is and interest rates and unemployment stay low.
PK's Hot Property Tips
As I said, there is more 'off market' property than ever at present, and unless you are registered with us, you just won't truly see what is available on the market. As we say at PK Property - if you are not in the off market, you are not in the market.
Call me today for a confidential chat in regards to helping you purchase your next home or investment property. Peter Kelaher 0419 200 018
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