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Real Estate Market News

Foundations to lead us into spring

With many of the private schools commencing school holidays last Friday, the streets have been noticeably quieter and, not surprisingly, the number of auctions booked for this weekend represents only 10% of our entire June offerings. Those vendors taking on the market this weekend have, however, been favoured by a passionate stalwart buyer pool keen to get a purchase under their belts in the first half of the financial year – even if only just!

This week has seen a number of homes sell privately – many after lengthy exposure in the market – indicating a healthy mix of vendor realism and buyer realism. Vendors have realised that their houses have not escalated in value this last 12 months the way they have in previous years and buyers have acknowledged, that while prices have stopped soaring, in the better suburbs prices haven’t dropped away by much if at all. All the signs are of a more “normal” market with strong foundations to lead us into the spring market with longer, warmer days.

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