Newsletter

The buyer mindset has shifted from FOMO (fear of missing out) to now FOOP (fear of overpaying). After the increases of 2021 buyers are now much pickier about their ideal property but this shift also requires patience. In the digital age which is all about instant gratification and fast results, it can be quite an adjustment. The same can be said with sellers as a cautious approach is being taken, it makes sense if you are living in a great house the motivation isn’t as high when the market is uncertain.

This Spring, there have been mixed messages about if there is going to be an influx of stock, with the majority of sellers seeming to want to wait for more certainty particularly around interest rates before listing their property. This is causing properties in certain price points to remain strong as demand far outweighs supply, especially in premium locations.

As we head towards the end of the year there are more people with pre-approvals in place and numbers at open homes are increasing. But the new listings in what is typically a popular time to buy and sell property are lagging. The real opportunities I can see out there are for people who are willing to be patient but still open-minded with their brief. The key to success is about finding a property that is the perfect mix of compromise.

This year has many more twists and turns to come yet it provides an opportunity to buy property in a significantly cooler environment. If you need help finding the right property, are looking for access to off/pre-market properties, want expert guidance from top-rated buyers agents and are keen to purchase property for the lowest possible price, start your property search with us now.