PK's Sydney Property Market Update August 2021
Market Will Be Red Hot Till Christmas And Beyond
Well here we go again, back into a covid property market that I honestly thought was behind us. Let's break it down a little so we can get some perspective on this market moving forward till Christmas and beyond, being May 2022.
Seeing we have no idea when lockdown might end, I am predicting that the market will continue to be very strong because supply will be very scarce, and demand will be high. Many vendors will now not be able to get their properties ready for sale before Christmas, and that is why the first half of next year will continue to be strong next year.
There is also a lot of people in there that will be dealing with the HSC etc, and will just want a holiday after lockdown, and just couldn't be bothered selling this year. All the above will tighten up stock before Christmas. The only thing that will slow this market down will be a huge amount of property coming on to the market, and I don't doubt that this will happen because of it being Spring, but unfortunately, it might not be huge enough to satisfy the massive back up of buyers that have been itching to buy since May this year. So, hang on to your hats everyone as this will be once again a wild ride in the property arena for some time yet, so stay safe, keep positive, and of course keep watching the Olympics.
PK'S Sydney property market predictions
I predict that we should see some sort of normalising in the market come April/May 2022 depending on lockdowns and vaccinations. I really believe once the vaccination rate is above 70 percent, the property market will begin to have some sanity moving forward into 2022 and 2023.
PK'S Hot Property tips
Not a bad time to buy at the moment as agents are not loving 3-5 hour private inspections, and hate doing zoom auctions. Everything had to be sold at auction before, definitely not the case now, but when open inspections come back it will go back to selling at auction.
P.S. you will need our Buyer's Agents services more than ever at present because the majority of properties are all off-market. Please call me today for a confidential chat in regard to what a property is really worth in this present market. I will give you the edge in this fast market, I have purchased 2,000 properties over the 24 years in business and I am presently purchasing a lot of properties before auction. I look forward to speaking with you soon.
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