Kiki’s Monthly Market Update – November 2017
| We are now of the opinion that we are in a normal real estate market, having noticed a lack of urgency from many buyers in the market place and a shift in attitude by some trying to take the upper hand and playing more games than ever. However, we are continuing to see good properties do well, including two new properties we launched this weekend that had been prepared and marketed beautifully with our expert advice and as a result we had 30 & 17 groups through our first open homes. Similarly, we are seeing registered bidders at auctions dropping, with an average of 3 reported by Cooley Auctions for October 2017 compared to 5 at the same time last year. This is where the skillset of your agents come into play as we only need one buyer to sell a property, but it is more important than ever to have the strategy and experience to manage such situations.
Turning to the most recent economic information put out by the analysts and positivity is creeping into the narrative, coinciding with a move in the ASX 200 index over the 6,000 mark. Continuing business and infrastructure investment are identified as supporting economic growth, keeping employment levels high and increasing tax revenue which could see upcoming federal budget deficits come in smaller than originally predicted. However, wage growth and inflation remain low and property prices are being reported as easing in Sydney and fairly neutral across the country. |
| This newsletter contains general information only as of 27th November 2017. Before making any decision or taking any action that may affect your finances, you should consult a qualified professional adviser. Kiki Bermudez or Mint360property shall not be responsible for any loss whatsoever sustained by any person who relies on the information in this newsletter. |
