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July 2014

Perfect time to make a purchase

There were plenty of interesting developments in the local property market during June. Buyer enthusiasm has declined since Easter and while this may not be easily identifiable to the broader market, we have certainly picked up an energy shift at our open homes. We are presently seeing two tiers of buyers in the marketplace. Firstly, there is a declining yet still highly active group of buyers who have been searching for at least the duration of this year. This particular group was exposed to the frenetic pace of the market leading into Easter and as a result remain bullish should they locate the right home. It’s important to note that this is a dwindling group as many are securing properties across the area. The second tier sees buyers who are fresher to the market and while still conscious that the market is competitive and performing strongly, they are more reserved and certainly not rushing into a transaction.
 
Given the subtle change in market dynamics for the first time in roughly a year, we have noted a number of price guides being reduced, some auctions have failed to attract competition and time on market has started to drift slightly. There is nothing to be alarmed about as it simply appears that we are moving through an adjustment per [...]

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Market Review

July 2014

Perfect time to make a purchase

There were plenty of interesting developments in the local property market during June. Buyer enthusiasm has declined since Easter and while this may not be easily identifiable to the broader market, we have certainly picked up an energy shift at our open homes. We are presently seeing two tiers of buyers in the marketplace. Firstly, there is a declining yet still highly active group of buyers who have been searching for at least the duration of this year. This particular group was exposed to the frenetic pace of the market leading into Easter and as a result remain bullish should they locate the right home. It’s important to note that this is a dwindling group as many are securing properties across the area. The second tier sees buyers who are fresher to the market and while still conscious that the market is competitive and performing strongly, they are more reserved and certainly not rushing into a transaction.
 
Given the subtle change in market dynamics for the first time in roughly a year, we have noted a number of price guides being reduced, s [...]

<see full article>