Don’t be forgotten in this market
There is a certain level of uncertainty and discussion surrounding the market we are currently experiencing. Some clients are confused and unsure of what the future holds, with many trying to seek clarity and sound advice.
Locally, we have experienced an approximate 10-12% decrease in prices from the peak of the market in late 2017. Market ‘peaks’ and ‘troughs’ are a natural part of the property market cycle. With a period of growth from approximately 2013-2017, we are now in the grips of a trough, which do not typically last as long as a period of growth.
This fluctuation in the market is making some question is now the time to make a move or postpone their property goals? Naturally, if you are purchasing and selling in the same market then it is all relative. You may receive less than you had hoped for your own property but will probably pay less for the property you purchase.
The market has been described as a ‘buyers’ market, a change from the last couple of years in which has been a ‘sellers’ market. A buyers’ market generally refers to the ‘supply’ of properties outweighing ‘demand’ from buyers. This can be a result of a number of factors including, but not limited to: buyers’ uncertain if now is the time to purchase, tightening in lending, and discussion surrounding the upcoming election.
Now more than ever, you need honest advice, experience and skill when it comes to transacting in the property market. You need an agent with a strong process that has been tried and tested backed by an effective campaign and sales strategy. Our strategies and systems have stood the test of time or put simply ‘what we do works!’
Being the area’s longest serving agency, we have experience in all types of markets and have just about seen it all! We believe the perfect time to sell is when you are ready, and we can use our experience, knowledge and advice to assist you in getting the job done. If we could be of any assistance, we would love to help you!
By Emma Jackson - 16-May-2019
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