At this time of year, just like any other end of financial year period, the real estate market is operating at an intense pace as people make strategic property moves to suit their tax purposes. They’re either keen to get contracts signed (generally investors), snapping up real estate to write off cash, and/or are gearing up ready to buy come July 1.
Yet, this year is different.
There is limited stock. There is also extraordinary demand.
We are down 30 per cent on new listings to market for the year-to-date. More specifically, our Brisbane prestige suburbs of Hawthorne and Bulimba are down 50 per cent on new listings to market for the year-to-date.
On a fascinating flipside, our buyer enquiry is up 20 per cent for the year-to-date.
Huge demand, limited supply. If you’ve got options, now is the greatest time to sell. You’ll be reaping lucrative benefits from increasing buyer competition and a simultaneous decline in listing competition.
Ninety per cent of the conversations I’m having with clients at the moment fixate around this one simple question – “where do we go after we sell?” Yes, the rental market is tough however I advise you to sell, double down on securing a rental, keep your cash in the bank and wait for the right time to buy. Every person I know who’s sold recently has done exceptionally well.
My message is clear – if you’re prepared to sell, and do your homework, you’ll be rewarded with a significant price.
I hope you enjoy the read.
Matt Lancashire