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Real Estate Market News

Off-market or grey-market?

Whilst the residential real estate market works itself through the tail end of a tough time and the 2nd term school holidays loom large, the opportunity to consider any number of properties available “off-market” presents itself. Some of these will be coming to the open market in late July or August once holiday-makers return from warmer climes and the motivation of those vendors will be elevated. However, many (most?) are really only available at healthy premiums (a “grey-market” so to speak) exists of ever-expectant owners hoping to sell high whilst market values are at lower levels. Self-education and moderation will protect buyers from over paying and becoming familiar with the existence of the two markets will help buyers navigate their way through.
As the market resurges, the balance will inevitably return to the more normal state of affairs, that is to say that vendors will be tempted from the shadows more readily and move straight to aggressive marketing campaigns but for the meantime, so many remain watchful as market directions unfold.

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