Friday 31 Aug 2018
As we enter spring it will be interesting to see if there is the usual increase in listed properties. This will be the first spring in 5 years that we could call a buyer’s market. After the downward price movement since April this year buyers are now out and about and closely monitoring activity. They may be sensing it to be an opportune time to make a move. If a large number of properties do come on the market, this is likely to create an oversupply, and buyers, seeing mediocre auction clearance rates, will have a greater feeling of ascendency.
So vendors listing their properties in spring will hope there is not an oversupply of properties at a competing price point. But buying and selling in the same market can have its advantages. Astute vendors looking to buy a more expensive property may consider employing the strategy of selling now as there are discounted opportunities at the higher end.
Whatever your strategy is it is worthwhile speaking to an experienced professional who understands the best strategies for the various scenarios and market conditions.