We would all agree Real Estate is probably one of the most talked about topics daily both with our work colleagues and friends and most people have the desire to own their piece of bricks and mortar which offers both security and stability together with an appreciating asset.
There has been much published data so far in 2020 around the property market and its clear buyers have been out in full force with 77 percent clearance rates last weekend alone.
The banks are also reporting an increase in loan applications. CBA advising home buying applications are running at a record rate.
What does this mean for the buyer?….
In the last quarter of 2019 I had some clients who viewed numerous properties and didn’t end up making the commitment to sign a contract. In hindsight this has been a costly error given the property price market in the East has shown a strong increase of 7-10 % (and growing). More disturbing is the consistent lack of stock vs buyer demand. This has been the major contributor to increased sale prices which are excellent for vendors however the knock on effect for the buyers is simply disappointment.
My advice to anyone looking to purchase: Is risk = return , get in sooner than later!
Having a buyer’s agent is an incredible tool for time poor purchasers that continue to miss out on opportunities. Most sales I have concluded have occurred with either off market or pre auction negotiations avoiding the common theme of “missing out”.
Buyer’s agents in Australia have only appeared in recent years – data in New York and LA shows over 50% of property transactions occur with a buyer’s agent vs a smaller stat of 5% in Australia- certainly In Sydney’s East it is well worth engaging a buyer’s agent to handle the search & negotiation to get a positive result.
I personally work with my client’s criteria and objectives, ensuring they get access to properties across the market through my private contacts and relationships with the local agencies.
The attached recent data is very helpful ( published 28th January 2020 ). Clearly Sydney’s East continues to be a safe investment for primary home owners or landlords https://propertyupdate.com.au/property-investment-sydney/ and will continue to grow throughout 2020.
To work with Annie Jeffrey contact: annie@theprivateagent.com.au or call 0408804422