Property
A “NEW PHASE” IN THE
Property
Market
OR A TEMPORARY BLIP?
Local Expert Peggy Willcox PROPERTY Expert
AFTER A FEW GREAT YEARS OF TRADING, THERE HAS BEEN PLENTY OF SPECULATION THAT THE GOOD TIMES WOULD SOON COME TO AN END. LENDERS HAVE BEEN TIGHTENING THEIR BELTS FOR SOME TIME AND HOUSING SUPPLY HAS BEEN INADEQUATE TO MEET THE DEMANDS OF BUYERS.
W
e seem to have finally crossed the threshold where buyer numbers are dwindling at the same rate as stock levels are rising. The sellers market that vendors have enjoyed for the last few years may be a thing of the past.
In the last eight to 10 weeks we have seen some realigning in the market as well as some price sensitivity. While offers are still being made, they are more conservative and sellers have not yet come to terms with having potentially “missed the boat” on achieving their dream prices. While no-one has a crystal ball, it appears we are shifting from a strong vendors market to a more competitive buyers market. Over the last two winters our saving grace was the temporary boost generated from interest rate cuts. All speculation is now preparing us for interest rate hikes so I think it is reasonably safe to say that 2017 will not follow suit.
HOUSE & LAND FOR SALE Wide range of home designs Sydney’s growth areas Great investment opportunities
Currently Selling In: Jordan Springs, Werrington Edmondson Park & Box Hill
According to the NAB June quarter residential property survey, first home buyer owner occupiers were the dominant players in the new home market and were second to first home buyer investors in the established home markets (despite the new FHOB grants not taking effect until July 1).
Keep in mind that if you are selling and buying in the same market it is all quite relative. The lower price you may obtain on your sale should reflect in an equally reduced purchase price.
Find your perfect home today, call us on 1300 188 698
www.aushouseandland.com.au
19th & 20th August Stand 54 Issue 8 August 2017
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