Based on Reported Auction Results*

Bouyant Market Continues Into 2020

The Government’s 2020 First Home Buyers Deposit Scheme helps see market momentum resume from its 2019 close.

February is the first month in the calendar year for auctions and already shows a predictable and strong start to both volume of properties offered and success rates. We have little reason to see any significant change to that general sentiment in coming months. It is anticipated an increase in stock levels over the autumn period will only feed an increasing appetite amongst buyers looking to purchase. This provides opportunity for organized buyers to achieve their buying goals while sellers can also get on with their business.

Due to the Deposit Scheme, the strength across the market should be broadly based, geographically. Initiatives such as this are designed to have such results. A wide base of support then ripples up through the price ranges.

Rising markets are difficult to comes to terms with for buyers. A fear of paying too much, or not having an adequate budget, gnaw away along with the fear of missing out. At the same time a buyer’s hopes slowly feel they are being eroded away. What to do? We have a clear message on our Home page to property buyers. In a rising market, “time is money”. Our simplest advice is use your time effectively.

Bruce Renowden