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Real Estate Market News
Market Slow to Adjust to New Legislation

Although Marshall White’s auction clearance rate has remained strong as the market gears up in the lead up to Spring, we have noticed that buyers appear to be grappling and adjusting to the recently introduced new legislation. This new legislation requires agents to provide a Statement of Information in regard to the price range for a particular property being sold, together with comparable sales evidence.

Although the new system is clearly more transparent for everyone concerned, a small number of buyers are still factoring in an increased selling price above and beyond what has been indicated through the Statement of Information now provided to them.

My strong advice to buyers looking to get into the market is to attend either an open for inspection or the auction if the property appears to have some appeal and not to assume that it will be beyond their reach.

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