On today’s episode, we have Peter Hanscomb from Belle Property sharing his insights into the opportunities for buyers and sellers in 2019.
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Here’s the transcript of the video:
Buyers at the moment. Let's say I'm a buyer, it’s 2019. What are the opportunities for me? Why would I want to come to the market this year? Because I think the lull and the easing of prices will stop soon. - Okay - And I think we'll start to see more stiffening in the marketplace. Particularly July-August, you know, will be the commencement of that. - Yep. - So I think there's going to be great opportunities right now for buyers in the marketplace if they can get money, if they can get financed. - Yeah, sure - And also, while prices are down, going up to that next step of property is easier when prices a low. Because if you have a 10% increase of 2 million, and then a 10% of 3 million, and obviously there's a hundred grand. - Yeah sure - And a hundred grand’s a hundred grand. Yeah, that was good point. I guess listing levels are a little bit low, I guess back end of 2018, definitely 2019. I'm a seller, what are the opportunities? Why would I want to bring my property to market? I think you've got to be motivated to get a sale. I think going into the marketplace expecting a wish price, I think, is probably not a smart move at this point. So I think from a seller viewpoint, you've got to look at the marketplace and say ‘I want to get this property sold’ for whatever reason that may well be, but I've also probably got to be very committed to the process in coming to the marketplace at this point. There are people, we're seeing, you know, we saw a result last weekend; two-bedroom apartment, expectation was around about $1.65 million Because of competition, it went for $1.95 million - Well there you go, yeah So, you know, there are very good opportunities. If you've got the right type of desirable property and you market it extensively at this point. Yeah, sure.