The short weeks and public holidays which surround Easter as well as the upcoming election have once again seen reduced stock levels as property takes a backseat. Whilst there hasn't been any major property initiatives from either party, the talk of imminent rate rises and negative press around the market means there is uncertainty in the air.
Uncertain markets provide great opportunity provided you focus on quality stock. It's important to know what the right call is and not to rush in just because something is achievable.
Over the past few months, we have secured properties well within our client's budgets and have seen countless properties selling within or below the advertised range. History shows us that in a moving market the gap between vendor and buyer expectations widens but they eventually find their level.
The sub $1.5mil market is more volatile and faster to react. The premium market is holding firm, however, it seems more people are waiting until spring to "see what happens". As clearance rates and median house prices drop, off market transactions are on the up with agents and vendors working with the leftover buyers who couldn't get in last year. As we await the next few months the uncertainty will settle, as it always does, but the pendulum feels like it is swinging back in the buyer's favour.