Newsletter

Real Estate Market

The property market has now shifted into a two-tiered market. The interesting trend being the majority of sellers still think they can attract a premium price, much like in November of last year. This is shown by clearance rates now being below 50%, yet buyers are thinking ahead to six weeks from today. This divide is causing properties to stay on market longer and price reductions are being seen throughout Sydney.

The certainty that was in the market last year has dissipated with many buyers factoring in inflation, the upcoming election and rising interest rates to their purchasing decisions. The herd mentality that once caused buyers to jump over one another to buy property has now moved to the fear of overpaying.

However, we see this as a great opportunity to buy more in isolation in my opinion rather than in competition. Our clients have been able to purchase properties at great prices. For example, we were able to secure a townhouse in North Bondi for $2.91M when the vendor was seeking $3M. In this same complex, the first townhouse sold for $3.6M only last October.

Our team can help buyers leverage the shift in prices because we know the market intimately and can negotiate effectively. There is plenty of opportunity to save money if you’re willing to step away from the crowds and buy in isolation versus buying among the competition.

We can provide a full solution to developers/investors/families who are looking for the perfect development or knockdown rebuild site. Firstly by finding the right off-market opportunity, we then determine the feasibility of projects and assist with the future value sales they can expect. All the way through to introducing builders, and contractors if need be. Our aim is to make the process as simple as possible so that it’s a seamless experience.

Our clients have been able to purchase development sites that not only fit their needs but have factored in contingencies such as building costs, and weather delays. For example, we were able to secure an off-market duplex site in Balgowlah that was DA Approved with an extended settlement. This meant that my client could start the build as soon as it settled and not go through the stress & hassle of waiting for the approval process which is rife with delays. This is why it is vital to engage with a top-rated buyers agent.