The Sydney real estate market hots up as we swing into the peak of the spring market.
As a selling agent I would bask in this short period pre Christmas. Open home groups swell, the plainest of homes are swamped with interest and confidence returns to home sellers, however we know it is short lived. The first inkling that the Spring market has swung its full course is a sudden holt of phone enquiries, inspections at open homes dwindle to neighbours and game offers are way below the asking price.
This dizzying period generally lasts between early September and late October. Brent Courtney of McGrath advised that his gut feeling “is a slightly longer Spring market this year”. As a buyers’ agent it becomes a game of “who you know”. I am still being invited into property the week before going to market, however to pry even fair market value out of a vendor given high expectations will have to wait for another couple of weeks.I will keep you posted.
The below graph (courtesy of RP Data) is an example of house sales in Manly showing the typical Spring market being the strongest period for the year.
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