Real Estate in Sydney, Australia saw a slight change in buyer’s attitude in the last quarter 2017.
Real Estate commentators are now suggesting that is now a “Buyers Market” and that the real estate market in the largest cities of Australia are starting to experience a slowdown in prices.
Most market commentators tend to be in the media: television, newspapers, app providers and the biggie – social media.
Market comments are a reflection of a number of indicators and these include:
- Auction market results i.e. the number of properties sold at auction on the day
- The number days on market which can range greatly depending on the suburb, price range and demographic of buyers
- Number of properties on the market for sale, this too can range greatly including, investment units, strata title units, holiday homes, primary homes, land subdivisions and includes and reflects location and suburbs as well
- The final indicator is the number of bank loans being issued. This is one of the hardest indicators to obtain as the real estate market is often judged and analysed on a weekly basis and the statistic published by the banking sector can often be delayed or based on financial quarterly response.
In my 40 years of real estate experience I have seen the ups and down of market trends and in my understanding of the real estate market, which is gained from my every day, face to face experience with the decision makers. The decision makers are the buyers and the sellers. More importantly if there is buyer confidence in real estate then the markets flows and prices trend on moving quickly however if the buyers confidence is weak then the real estate market reflects this with the increase in number of days on market.
It must be remembered that days on market does not always reflect market price slowing or that the property is over priced. There is more to ‘days on market’ than assuming the price is too much.
The Sydney real estate market is heading into a year where the number of properties for sale is decreased yet the number of buyers, from my experience, is increasing.
The market place is affected by supply and demand.
In our many dealings with buyers agency and helping those seeking to buy property in Sydney our edge is that we at Kathryn Hall Agency incorporating Kathryn Hall Real Estate, as agents are speaking, meeting, evaluating with those who are the decision makers- we are face to face with buyers and sellers. We can commentate from the coalface
The information in this article is of a general nature. While care has been taken preparing this information Kathryn Hall Real Estate does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any other purpose that the article may be used. Kathryn Hall Real Estate accepts no liability for any loss or damage (whether caused by negligence or not) resulting from use of information.