The tide has definitely turned and with different waters comes new opportunity. It is currently a buyers’ market with the number of properties on the market at 13,676 the same time last year we had 10,784 properties. Selling days have increased from 56 days in 2014 to 68 days in 2015.
Some people become fearful when the market slows or the number of properties on the market increases. It is at this time that I remind myself of a quote from Warren Buffet- “Be fearful when others are greedy and to be greedy, only when others are fearful.”
If you are selling an investment property in this market ensure that you give your property the best chance to sell. To do this, now more than ever curb appeal is important. If your property looks shabby buyers have that many properties to select from they can just walk away and move onto one that is more suitable or more appealing from the front. Selecting a sales agent in this market is also more critical than any other time if you are wanting success in the quickest time possible. So this is probably not the best time to haggle on a selling agent’s commission. What is important is that you employ the best agent you know!
While all areas of the market seem to have slowed down the one area that has continued to outperform is the land sale prices. This has increased to its highest level at $278,000 with stock levels at the lowest it has been since 2011. This is great news for our clients who are subdividing as they can expect a good return for their land or can create equity via creating a new land title.
If you are wanting information how to achieve great curb appeal with a limited budget contact – info@subpro.com.au for a curb side makeover quote.