Real Estate

Time to act as market heating up along with weather

INTO the second month of Spring already and the property market is heating up along with the weather.

The market is really gathering momentum now with loads of first homebuyers out there, new apartment complexes being finished and plenty of opportunities for renovators seeking that perfect blank canvas.
We’ve noticed new developments have been selling particularly fast – with many snapped up prior to completion.
This means buyers need to be quick and purchase off-the-plan to get what they want.
Likewise, properties in need of a makeover remain highly sought-after.
Seems buyers really enjoy getting their hands dirty and are keen to secure something they can customise that’s handy to shops and transport.
Of course, the areas Day & Hodgson service, are certainly up there when it comes to convenience.
Turning to auction clearance rates and they’ve also been gathering speed over the last few weeks, with a 75 per cent preliminary clearance rate in Sydney over the October long weekend (compared to just 44 per cent for the same time last year).
Although fewer than 200 properties went under the hammer, open-for-inspections prior to auction were up.
With less housing stock to choose from, many properties are selling before auction as buyers are determined not to miss out.
That means vendors are getting good enough offers to sell without going to auction in some cases.
Analysts are saying the stronger clearance rates combined with rising prices, another interest rate cut and changes in lending, are good indicators the market is bouncing back.
Day & Hodgson can advise you on the best way to market and sell your property.
Potential buyers will also have our top sales team at their disposal.
Likewise, if you’re looking for a property management professional, we’ve got that covered too.