With the shortest day of the year only just behind us and the full depth of winter’s chill hitting Melbourne this week, we are currently experiencing stock shortages at almost record levels. The question is; does this have any impact on prices?
Buyer confidence has been mixed depending on the quality of property on offer and this combined with low winter stock levels creates an interesting dynamic. With limited growth in prices currently, some buyers are making calculated offers on properties and taking their time arriving at them. Some have been waiting for this last little run of properties to be auctioned today prior to leaping on the few properties that have not sold as yet.
It is quite likely that, apart from some overpriced offerings, many of the leftover properties from the last two months worth of auction campaigns will likely sell imminently now that the latest offerings are out of the way.
From a buyer’s perspective, the only alternative to this is to wait until spring but that means putting househunting on hold for another two months. The better buyers in the market place acknowledge that the market is probably firmer than many journalists would have you believe and those buyers are acting quickly when good opportunities arise and this is keeping prices fairly steady in the main.