It’s A Buyers Market

Apartments have taken a hit in Box Hill (Vic)

Probably not expected due to supply.

 

Geez that's a terrible looking apartment

- Bedroom will get next to no light
- Study is barely useable, not getting any light
- Entire apartment will only receive light first thing in the morning
- Winter balcony is a weird size, too small to very useable but bigger than something that is simply for standing at and with crappy floor tiles
- Dont think I've ever seen a property over $1m so poorly presented. A quick google search of Hapro shows that big white box in the study is likely a home taming booth

 

It's pretty new though... and a development with wow factor

 

It does LOOK nice, but for $1M for a one bed apartment?

 

pretty sure these are a four points hotel chain

 

at the end of the day the real A grader (location) turn key properties are owner occupiers who are the most secure as it will be the last asset they sell and the government/banks have their backs

 

I was going to say exactly this. A stylist could have helped so much!
And I wondered what the Hapro was too LOL

 

Agree, the price does leave me under the impression that apartment prices around the city haven't come down much (at all?) during the pandemic. Rent, yes, definitely lower. But sale prices have held up pretty well for newly (recently) built modern apartments.

I fear if the gov were to relax rules for overseas arrival (look what Spain is doing: all tourists are welcome, are they so starved as to throw all caution to the winds?), all hope of finding a bargain near the city would be lost.

 

Getting messages and emails from some recent opens in Frankston south notifying that vendors have lowered asking price. Definitely feel like power is with buyers, I'm holding out for the right bargain.

 

Say you do find a property 20% off its peak. What do you think will be the catalyst to drive it back up and then more?

 

do you guys think the price will keep going up again ? even in the near 1 year ?

 

This country is a very large place, you know. Not everything rises & falls at the same time. So the answer is probably yes, and no. Housing prices is supply and demand, mixed with general market sentiment.

 

I guess all those agents who made the first 6 months of buying a home in Brisbane hell for me paid off! now I am cashed up with a deposit for homes that ARE dropping in price.
* Agents aren't listing sold prices which indicates it did not achieve a desired price.
* Agents who ignored my previous inquiries months ago are all calling me now with crashed contract properties.
*Agents are also starting to actually list prices on properties as people aren't willing to play the games to buy it.

Unless it is a well positioned inner suburb home that is well transparently priced and move in ready they are starting to stagnate on Realestate and Domain.

 

Revenge

 

Kind of yes...
Two homes we placed offers on and were told "owner is not going to negotiate a price. It's $$xxx or nothing" I have watched sell for less than what I have offered - one by $40k

 

thats good, you are now in the box seat, I think there will be better deals moving forward. Unemployment figures soaring will do this

 

Could I ask which agent is this? How do you find an agent like this?

 

I know RE agent who has rights for bank acting as mortgagee in Perth. He sold 5 this month, they sell like hot cakes. He always has stock

 

Which agent is this? Are they distressed prices?

 

i will pm you