wish the market would slow down!
- Thread starter lizzie
- Start date
Know of a couple Agency's almost being sent to the wall...
And properties being on the market beyond 12 months...
And the odd sale within 2 days!
And properties being on the market beyond 12 months...
And the odd sale within 2 days!
that's unusual, an agent moaning about lack of comms!
wake up and stop dreaming .................its dead remember : )
Our problem is we have LOTS and LOTS of clients with pent up demand and NIL suitable stock in many areas
ta
rolf
Assuming NIL suitable stock = yields not high enough, because there is currently more stock on market than anytime in Australia's history (plenty to choose from!).
Hence not suitable really just means that prices have further to fall in most cases.
low volumes in many places.
Similar vacuum we have had in the past.
Sellers dont need to sell, buyers wont buy unless they get what they want
ta
rlf
An area in Newcastle that is my stamping grounds ... you know ... one of the top ten in the Ryder report so every man and his dog is hunting it.
Nope ... just no stock
So got a list of the "many areas" Rolf mentions?
well Perth obviously, and Newcastle it seems
I am not Rolf so do not know his list ... just know the half dozen areas in and around Newcastle that I follow have very little stock.
Yes - Evand - I know two properties do not a market make, but I have been looking extensively, and talking to agents, on behalf of some interstate investors ... believe me ... in good investment suburbs very little stock.
Yes I concur. In the last 2 weeks I've seen:
1. Several (not just 1 or 2) properties sell within hours of being listed.
2. Another sold before I even had time to retun to my office to send an email recommending a decision to purchase, to one of our clients.
3. Several new listings come through from re.com on an email alert with "Under Contract" already plastered on the advert. What the?
So, we engage in a different strategy, and buy way, way, way, before the first Open on Saturday. Go away lizzie........and I say that in the nicest possible way.
When I read your first post I was about to respond with an answer similar to this one of yours.
Anything that goes quick like that is either a high demand area, is a more attractive property for location etc, and/or cheap for the area for whatever reason (distressed sale, perhaps? etc).
It happens here in Dromana too. I'm not in a position to buy, but I still see what goes on around home, and the better places go very quick; especially the well located development sites.
Mind you; they are mostly bottom end just the same; not much selling higher up the ladder.
Go away lizzie........and I say that in the nicest possible way.
You are safe Prop ... I am not actively working it, was just a one off favour with maybe a repeat down the track.
Made me look outside my usual areas and I was shocked at how little stock there was. Teed up around 10 properties for the friend to look at, but by the time they few up a few days later, all but two were under contract ... then in one area we sat down with an agent who went thru his listing book, only printed two days earlier, as he crossed out property after property.
Ummmm, so that that don't have to pay more.
Many people who took similar advice from the likes of Prof. S Keen did so to their detriment. Oh yes, look at the CG chart attached for one of the suburbs we're talking about. Inevitable big slide? .......I don't think so.
I do agree some areas like the Gold Coast, Cairns etc are having some pull back. But we're not referring to those.
Hardly falling when the chart shows good steady growth, surely?
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