It’s A Buyers Market

With stock levels lower, keen purchasers should watch out for crap properties (structural issues, poor floor plans, very bad locations) that vendors will seek to quickly sell to capitalise on higher demand than supply.

It’s not a bargain if you unexpectedly need to spend a fortune fixing it, or can’t sell it for more than you bought it.

We’ve seen a higher number of dodgy properties than usual recently, as well as extremely aggressive and troubling tactics from obviously stressed real estate agents.

The best defence? Never sign a contract without getting legal advice first (don’t rely on the cooling off period - you won’t be able to change the contract if your legal advice recommends new special conditions/any amendments) and always buy subject to a professional building and pest inspection, or get one done prior to an auction.

 

... the agent's name

 

No visible drop in our area ... low stock means sales are still strong across all price levels, including a few record prices paid in the last few weeks.

Agent who i had value a couple of or low cost units, only last week, reckons we'd have a good chance of getting around 5-10% more, than we would've pre covid due to demand

Not sure what will happen once the mortgage free periods end and/or job keeper finishes but don't think it'll be the doom and gloom relished over by a few on here back in February/March

 

I own some crap properties. Coupled with a stressed out agent, might be time to sell?

 

If you really want to offload, worth trying tbh

 

I think it's a very good time to sell.
In about 2 years it will be a better time to buy - depending on location.

 

Viewed some open homes today and the lines were HUGE! Nonetheless I have an accepted offer on the table well below asking I had locked in Friday due diligence time!

 

This seems like a quality 2br/2bath apartment, 950K is definitely a bargain (even 990K is reasonable).
I've been looking at central park (chippendale), a lot more expensive:
https://www.realestate.com.au/property-apartment-nsw-chippendale-132857398
1br+study for just under 1.1m
(this is a newer apartment with better surroundings, though)

 

Strata, 2k per quarter!

 

Prices seem to be holding in coastal areas, but taking a little longer to sell. We were sniffing around their Jan-March & many would sell at first listing. More of them holding out for a bit longer now.

 

The Druitt is holding up alright. I'm chaffed.

 

Yep, I'm bringing another to sale as soon as the reno is finished. If it tanks, then we'll keep it.

 

The same as in inner southside Brisbane from what one agent said they can't get enough listings ..

 

The Govt is plotting a whole rash of buying, resi construction (and RENOVATION) stimulus among other things. I wonder what impact this will have?

 

Sydney??

 

given recent prices in melbourne in the areas im keeping an eye on
im starting to think that even though we are going through a recession of a lifetime/generation, prices are holding up remarkably well, that we will never see a time again when prices are so depressed that cashed up buyers are like a kid in a candy store

it seems the mental resilience of buyers combined with multiple government actions are virtually stopping any form of crash

anyone else agree?

 

Yep

 

I wish you all the best. Clearly market is still good

 

...Is it a bad agent? haha

 

Market is very active in Hastings NZ. Just sold a house for double the purchase price four years ago. I've also got three offers on a block of units I'm selling, also doubled in four years. House sold to a fhb and the units are all investor offers.