February Market Update 2018 - Director's Desk
The best way to summarise the current market conditions for sellers, simply put, we are experiencing a very normal market.
Whilst we know that for the last few years, market conditions have been red hot and heavily favoured towards vendors, the market has shifted and the best way to describe the current marketplace is that it is much fairer towards both vendor and buyer.
There are a lot of properties to be sold in 2018 and the best way to do that is for agents to nurture the buyer database and maintain lots of communication with vendors through regular conversations about enquiry levels, vendor reports, feedback from buyers, be aware of anything that can impact a property value such as zoning changes and most importantly, price the property correctly.
The biggest yardstick measurement used of course is the auction clearance rates which continue to remain around the 65% rate which indicates the market is still healthy.
We have noticed a slower rental market on the back of increased vacancy rates. This should really come as no surprise as new building projects are coming online. These developments have been much needed to meet the demand of Sydney’s growing population which has been incredibly tight for a very long time.
Our team is up to speed with the state of the current rental market and well positioned to give honest feedback on rental demand in order to benefit landlords with maximum exposure online and minimising any potential for prolonged vacancy.
Talk to our team with leading market knowledge so you can make the right decision and align expectations.