Welcome Welcome to the first Wyoming Market Report for 2016. Is it time to Sell, Buy or Watch? If you have any feedback or information for our next edition we would love to hear from you.
Tony Yarnold T 02 4346 1463 M 041 7 228 276 E tonyyarnold@mcgrath.com.au Steve Farthing T 02 4346 1461 M 0418 436 666 E stevefarthing@mcgrath.com.au
The Local Market Let’s consider some factors that have been known to initiate the decision to Sell or Buy such as property values and interest rates. Over the past three years we have seen significant property values increase by 38%, which has not been seen since 2003/4, which was generated by the first home buyer grants. Traditionally, most home owners believe that winter is not a great time to sell your home, however this couldn’t be further from the truth. With the current interest rate environment and market conditions, we are experiencing a high level of enquiry and activity in the market. Presently, we are seeing a large volume of buyers attending our open homes. We believe that a reduction in the supply of homes, coupled with high demand can produce a premium price for your home. Winter factors to achieving a premium price: Low quantity
of homes for sale during the winter period. Increased quantity of buyers looking for homes. Reduced competition for homes on the market. This is an ideal time to embrace the quieter competition that the middle of the year usually offers. Often people consider selling in Spring, however while the stock levels are low, now may be the best time to move. Spring can present too many homes for sale and an oversupply will soften the market as the buyer urgency fades. Either way we have an exciting market for Sellers and Buyers alike. The best time to sell comes down to considering all the external factors out of your control, so that you can make an informed decision to sell or buy. The best time regardless of these factors is when does it really suit you, life is the real deal, not a rehearsal so enjoy the journey.