Well what an incredible 8 weeks it has been with our last purchase on Friday being an off-market property at 24 Bay Street, Mosman, for over $11.3 Million for one of our local Mosman clients.
Property has been trading very quickly as of late, and with volumes down, agents are talking it up, saying that spring is going to deliver a lot more stock.
I have been hearing that heaps of new property will come to the market for the last 10 years, and I believe that might be the case for out West, down South, and maybe a bit more on the Upper North Shore, but Lower North Shore, Eastern Suburbs and Northern Beaches will be tight as usual.
The reason it could be a bit different this year from other years, is that people have actually had the time to get their properties ready for sale due to Covid-19, and travel in general has been put on hold enabling people to concentrate and bring forward the sale of their home.
Yes a lot of people have actually had the time to sit down and talk to each other, and make decisions on what is one of the biggest decisions of their life, selling the family home.
With this pandemic, I am finding people are asking for that extra room now to turn into a study, as they have been told that they will now be working at least 2 days a week from home, how times have changed all within 6 months.
PK'S Sydney Property market predictions
If a whole heap of stock comes on in Spring, I think the market will struggle a bit, but the A and B grade stock will hold it's own, but C and D grade stock will get hammered. If you can buy a C grade or D grade property and turn it into and A OR B grade property, happy days.
PK'S Hot Property tips
I have never seen so much off-market property available due to Covid- 19 in the 23 years as principal of PK Property. You just won't see all this property if you are not registered with us so
Call me today for a confidential chat in regards to helping you purchase your next home or investment property. Peter Kelaher 0419 200 018