What determines and changes the supply of the established house in a given area?

Discussion in 'Property Market Economics' started by Skyhighlimit, 19th Jan, 2021.

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  1. Skyhighlimit

    Skyhighlimit Well-Known Member

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    I’m looking for houses surrounding Box Hill (vic) and Glen Waverley and realise the supply is very low in those areas often there are heated competition for the properties that I’m look at : just OK location & OK Land size & and OK condition, nothing A grade. I wonder why and how to pick up the signs showing supply will increase?

    Some people in this forum suggest it is due to the (Asian) buyers who buy in those areas don’t like to sell. But assuming the demographics did not change quickly, though there were many deals closed Dec 2020, is still significantly much lower than the months in 2019, a period that was perceived as “ downturn” in property market, presumably discouraging vendors from selling already.
     
  2. thatbum

    thatbum Well-Known Member

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    I'm confused - what's the question?
     
    jared7825 and Codie like this.
  3. Robbo80

    Robbo80 Well-Known Member

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    You can try letter dropping or targeting homes that have been advertised for rent for a while with little luck. You may get a few looking to do a deal off market, just don't make a crazy lowbll offer. Worked for me once!
     
  4. AxeLy

    AxeLy Well-Known Member

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    Leave your name and contact with the selling agents servicing these two suburbs, and let them know of your budget & intention to buy. They would either put you on their priority mailing list , or contact you directly before properties are put on the market.
     
  5. Younginvestor2

    Younginvestor2 Well-Known Member

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    Find houses with house number 4, they’re in less demand.
     
  6. AxeLy

    AxeLy Well-Known Member

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    Grab those with house number 8. They are easily gone before we blink ;)