While winter has been typically chilly, the property market has been turning in some really positive outcomes for sellers and this resurgence has laid the platform for a strong spring selling period.
We’re enjoying a record low interest rate environment and industry experts believe that rates could even fall another two basis points as we head into 2020. A roll back on lending restrictions is also motivating people to transact.
We’re coming off the back of almost seven weeks of a Sydney auction clearance rate of more than 60%, getting close to 90% in recent weeks. Interestingly, Domain economist Trent Wiltshire indicated that the high clearance rates can be taken at face value and are not the result of the particularly low stock levels we’re experiencing at the moment. He suggested that favourable clearance rates and higher prices were instead likely to be early signs of a market turnaround, which is definitely what we’re sensing locally.
“There’s been commentary suggesting that clearance rates have been boosted by the low number of auctions,” he said. “Historically, that hasn’t been the case.” His research looked at monthly clearance rates since 2005 and found the opposite to be true; months with more auctions had higher clearance rates. “Regardless of the number of auctions being held, clearance rates are still a timely and pretty accurate indicator of market conditions.”
At C&H we love what we do and it’s fair to say that we’re extremely passionate about intricately understanding our market. It’s the science behind it that we enjoy, identifying all the small nuances, changes and drivers that others might not pick up.
We consistently outperform the market and it’s not just one thing we do that makes the difference but a range of clever little adaptations that we implement. Constantly tweaking elements of our campaigns as the market changes, we equip our sellers with every advantage.
And it’s not just sellers but also buyers who count on our reliable counsel. We’ve been around the block a few times and understand that the real estate game is a long play. We respect our buyers and we’re transparent across the board, providing every piece of information possible to help them make clear and confident decisions.
More than ever buyers are actively engaging our agents and staying in touch, seeking advice and exploring opportunities. They’re quick off the mark to inspect properties and are also ready and eager to make purchasing decisions much faster than they were when the market was flat.
After a trying and uncertain time for the property arena, it’s time to take advantage of this much-welcomed upswing. Have a conversation with us for some astute advice and real market insight, making your move easy.
