John Chapman
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25 July 2019

What is really happening up here?

Talking with my Valuer earlier this week he reminded me that :-

  1. The market peaked in October 2017.
  2. The bottom of the market was November-December 2018.
  3. He had a gut feeling that we are just below the October 2017 levels.

However, a “vacuum” appears to have developed.

What may have happened is there has been a “clean out” of properties on the market, except for those fancifully overpriced properties.

Have a look – there’s not that much on the market.

Certainly, what’s available is divided into 3 price brackets.

  1. The “above $1million”, if the property really is in that price bracket. These strangely sell well in these tougher times.
    – “smart money doesn’t buy during a boom”
  1. The middle range, say $700-$900,000, is selling too, coming out of the “slump” times.
  2. Properties around the $600,000 or less(!) These have well attended Open Houses
    – again, if correctly priced they sell. ­­

Have a look at the sales on my Website.

The Vendors I suspect don’t know about this and are still hanging off for “better times”.

Some wait for the “Spring – my garden looks better” and join that rush to the market.

The Banks are starting to advertise again for home loans!

Gosh, they certainly gave the marketplace a hammering during the Royal Commission.

Sydney Auction Rates last week were 81.5%! – admittedly on less volume of properties offered.

Vacant blocks of land are selling – another very interesting sign.

That is a sign that things are picking up as people building, perhaps even just simply investing, are going to profit from the increase in the value of their completed achievements.

Well – Is there a “vacuum” in the market for new properties to be sold, and are prices blossoming?

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