The Current Sales Market
It’s almost the end of the financial year and with that end in sight we thought it time to look back at the year so far and where we’ve arrived.
Sales has seen the the biggest change with a plateau developing. This means vendors have less room to be choosy. SydneyLinks principal agent Trisiana Muljono says, “Before we had one property and five buyers, now we have one property and two buyers”.
Picture above: For Sale, 108/15 Charles St, Canterbury, POA.
This reduction in buyers is mostly commonly attributed to the tightening of lending criteria, meaning less people with cash to spend on property. Trish says, “Our focus is to find out the realistic buyers and get owners on board with these type of buyers. This type of buyer is likely to proceed with an exchange of offer and commit to a sale, instead of shopping around”.
Although previously rising between 5% to 15% over the years, median total sales have slowed. It has become more difficult for investors but remains steady for cash and first home buyers.
The SydneyLinks team
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