Based on Reported Auction Results*

Good Volume Of Stock With Strong Buyer Interest Brings In 2021

There are no secrets here – the housing market is doing well, thank you very much. This, almost entirely contrary to all logic and opinion of expectations twelve months ago. Optimism locally post initial covid, extremely low interest rates and favourable stamp duty settings has the property market as good as it gets in normal market conditions.

Fortunately for buyers, the competitive environment is not as bad as it could be due to reasonable stock levels. There is choice out there. Buyers nonetheless need to be focused as good homes will attract interest from multiple parties. And as prices move it is easy to be left behind thinking “historically” when assessing values. The old finger-pointing at agents “underquoting” is a classic mistake buyers make and can result in wasted time in silly debate instead of seeing it for what it is – buyers themselves pushing prices! Explaining the difference between reality and perception is all part of a buyer’s advocates role and often helps result in clients buying sooner: or buying at all. Getting dispirited and wondering what to think are all challenges buyers will face in such times.

Demand is geographically wide spread with houses on land enjoying more demand than their subdivided counterparts. Our services have been engaged on all points of the compass in recent times and in pursuit of all sorts.

We will avoid forecasting here given recent track records and instead just draw attention to what is happening. Mortgage rates are staggeringly low and I suspect some are looking to lock one in for the duration while the situation prevails!

We will happily assist any buyers to navigate their course through to a purchase. Can look daunting at times, but reality is different to perception, usually.

Bruce Renowden
Renowden Buyers Advocates
0412 100 501