Current real estate buyers are spoilt for choice and saving thousands

Current real estate buyers are spoilt for choice and saving thousands

According to figures just released by SQM Research there are 22% more properties available for sale nationally than there were 12 months ago. In Sydney that figure is 18%.

My team and I have certainly noticed this surge in available property stock when searching for property for clients. At the moment we are spoilt for choice with the amount of real estate currently on the market. In addition there has been a noticeable drop in the general public’s appetite for taking action (particularly over the past few weeks due to global share market fluctuations), so we are seeing a lot of vendors being much more flexible in price.

In 2010 the property market was hot and it was challenging to buy property below fair market value. However this year it’s definitely a buyers’ market. You always know when the market moves from a sellers’ market to a buyers’ market as stock levels increase and sales agents become more active in chasing down prospective buyers in order to try and clear stock!

If you’re cashed up and looking to buy a property to hold for the medium to long term then there hasn’t been a better time to buy for quite some time. Now’s a good opportunity take advantage of current market conditions because you never know when the pendulum will swing back in the sellers’ favour again. So if you want some help with a property negotiation or in finding a property that meets your needs then click here to send me an email with your requirements.