Just a quick news update on how my team and I are seeing the real estate market at the moment. The last few weeks has seen some unprecedented events. Yesterday’s interest rate cuts together with the coronavirus fears I feel will drive more and more people to the safe haven of property.
Unprecedented low rates, loosened lending criteria and relative low stock levels are driving a very buoyant Sydney market with Saturday’s first super Saturday Auctions achieving around 80%. Add to this the first-time homebuyer incentives on offer and this really underpins a strong seller’s market that should hold to the end of the year at least.
What this means if you’re a seller?
Basically, the timing at the moment is great and you should consider an up to date realistic appraisal of your property. Our last couple of Auctions have really exceeded reserves and our latest two unit sales have both sold at the first open.
What this means if you are looking to buy?
Secure your finance prior to searching to avoid disappointment. Due to the competition you will be potentially facing, talk to your bank or broker to do your sums and know what your limits are. Find a great solicitor or conveyancer who can act swiftly to check a potential contract so you will be ready to make your offer with full confidence. Remember, in the medium to long term, Sydney property has always been a sound investment so if you find something you like, my advice, go for it!
As always, I would love to hear from you on how your search is going and If I can be of any help with your real estate needs please contact me on 0412 877 086 or email me direct. I offer over 23 year’s experience and would love to share my advice with you. Have a great week!
New Listings Coming Up for March
10a Tramway Street Rosebery – 3 Bedroom Home
27/109 O’Riordan Street Mascot – 2 Bedroom split level Mascot Station Apartment
3/16 Grace Campbell Crecent Hillsdale – 2 Bed + LUG older style apartment
Auctions This Saturday 5 Mary Street St Peters Featured