MOUNTAINS PROPERTY MARKET – A VACUUM, OR BLOSSOMING?
25 July 2019
What is really happening up here?
Talking with my Valuer earlier this week he reminded me that :-
- The market peaked in October 2017.
- The bottom of the market was November-December 2018.
- 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.
- 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”
- The middle range, say $700-$900,000, is selling too, coming out of the “slump” times.
- 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?