Ben Kingsleyâ€“ Chair of Property Investment Professionals of Australia (PIPA)
AS A BUYER, NEW STOCK IS ALWAYS WELCOME
Speaking from the buyers side, as an independent property investment advisor and director of a buyers agency business, my team and I are constantly on the hunt for properties that meet our clients briefs. So speaking from a buyers position any new stock is welcome for analysis and inspection, especially in a sellers market which is what we are experiencing in the Melbourne and Sydney markets even this late in the year.
In the current market, The facts are that good quality properties in superior locations and suburbs are still attracting strong interest and are being bought under stiff competition by highly interested buyers, so any new stock is keenly sort and reviewed.
Speaking from the sellers side, the best way for a vendor to determine if now is the right time or if early 2014 will be better will come down to two things – firstly how much you have been watching the buyers interest in your localised area and more specifically the level of interest in ‘like’ properties to yours.
Secondly, how much faith and trust you put in the skill of your selling agent. They are in the market every day, so the best agents will have a real finger on the pulse in terms of the level of underlying demand right now compared to what their experienced tells them about the upcoming autumn selling season.
It a simple case of ‘horses for courses’. In some areas now is as good as any to sell up and start to plan for your next move in 2014, but demand should be very strong to consider this. If not sure , then the smart money would be to wait until early 2014, as many people use the festive season break to make big decisions about their future – and property is a big decision, so this often leads to higher levels of underlying demand as the selling season kicks off in early autumn.
6 December 2013
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