Owners rushing to sell

More homes on sale now than in the past two years as vendors pre-empt downturn

This should be a good test of price levels with all this volume coming on . . Anyone on here trying to sneak in a sale in Sydney or Melbourne?

 

Interesting to hear listings are up quite a bit at this time of year.

 

Don't know what to make of it at this point in time, I would say some savvy investors will be taking their money off the table to reduce risk.... Peak or no Peak, its been 4 years of BOOM, and we know booms don't last forever.

Though it may be a soft landing, don't know????Melb is the little darling of OZ at the moment.


Victoria Announced As The Most Popular State For Domestic And International Migration.

 

Its not everywhere though. In my neck of the woods, listings are way down.

 

Number of listings can be misleading as a metric.

Last few years may have had more listings due to OTP sales/resales.

A better comparison of stock is number on market VS total stock in the area. This takes into account the growth in the number of dwellings in an area. It doesn't give you bigger numbers or more available dwellings.

 

Soft landing I think but a slowdown is definitely in the air.

 

I hope so, but we were going to have one of those in Ireland...
Still I think any correction will be limited to new development here.

 

The amount of extra houses presently for sale around Coomera and Coombabah is amazing. Even in 2012 I don't think it was this high.

 

Marketing is starting to change in Melbourne as well. Good time to sell for sure...

 

I have noticed an uptick in prop listings in my neck of the wood (Cherrybrook, Sydney) but prices don't seem to have softened. Footfall at open houses are down. Bidders at auctions are 1 or 2, and they start with opening bid of 1.5 or 1.6, and sell without going 100k from very high opening bid!

I have personally witnessed properties sold at auction but not reported as sold on RE.com for at least a week. Is it because agents could be warned by APRA to help market cool down by under reporting auction numbers? Don't think so.

Some props are sitting on the market for a few weeks though nothing seems wrong with them. Likely that sellers have higher expectations which have been set by RE agents and they are waiting to get a good price.

In short there are mixed signals out there. Somewhere in the next few months I think there will be a buying opportunity.

 

Listings in my neck of the woods (Far South Coast NSW) are as tight as ever and getting even more so. Buyers moving out of Sydney seeing value in our market. Finally starting to see some strong movements in price for the first time in a long time.

Have just started trying to sell my parents property up in South West Sydney so it will be interesting to see how the market is up there first hand.

 

What % is considered high?

Where would you get the figure for available stock?

 

@GSD - More than 2% on the market

Figures from council website

 

Have just started trying to sell my parents property up in South West Sydney so it will be interesting to see how the market is up there first hand.[/QUOTE]

Please post the result when sold.
Curious about the market there at this period of time.

 

Central beachside gold coast listings are still very low and selling quick.

 

Sneaked one sale. Trying to sneak another. May try offload more

 

Ok lets think out the consequence for investors on this. Lets say (for arguments sake) that almost all markets will face / are facing sales listing / stock-on-market oversupply in the coming 12 months.

With lenders being desperado to attract OO-P&I customers to help balance out their books thanks to APRA's cranky-stick smacking them on the bottoms (and as such; lenders are thus dangling carrots in front of OO potential customers with aggressive rates); one would argue that home-buyers will go on a buying frenzy, right? Cheap rates and PLENTY of homes available for sale, why wouldnt they??

Lets go with this as the better outcome for investors. Why? Lets say homebuyers DO go crazy and buy everything. Two good things happen for investors in this instance. 1) much less rental stock on market (and arguably less renters as a result of many renters switching to OO's); means things pretty much even out for investors (though rent rates probably don't go up that much, but then neither do net-vacancy rates; which sees things pretty much even-out); and #2) whilst rent rates may stagnate a bit, theres a chance that with OO-buyers swelling; competition for buying heats up in some markets (not all!); which could see for another jolt of capital growth; which would be a good outcome for investors already invested in such areas.

Of course the big problem in amongst this is: wage-growth is stagnate at best; and in decline at worst. This throws a real spanner into the above possible outcomes. Without growing salaries, the OO-buyers aren't likely to have as much to spend (and may even not bother buying at all); yet sellers (including desparate investors looking to de-vest; baby boomers looking to cash-out to a retirement see/tree change location) are still flooding the market with 'for sale' listings. That would be particularly scary.

 

Have our ppor on the market and it is very quiet. All agents saying 2-3 months ago was peak craziness. We've had some interest but now it's it's up to fhb to step up to the plate to give sydney a dead cat bounce to close out the cycle.
See you in 5 years for the next one sidney

 

Hey @bob shovel where are you selling?

 

The heat is definitely off in a few areas and some people clearly got too carried away last year.

I went to this on the weekend as I was in the area 21 Astoria Park Road, Baulkham Hills NSW 2153 - House For Sale - 2013682600 I can't remember the exact figure but it pretty much sold for exactly the same as it did a year ago so stamp duty and interest payments down the drain there.

I'm wondering if we will see this softness start to show up in the median price?