Proptech Carpool – Hornsby Market Wrap ft. Karen Hardy

October 8, 2019
Karen Hardy from Laing+Simmons joins us to give her Hornsby Market Wrap and discusses what she’s seeing in the market right now.

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Here’s the transcript of the video:

Karen Hardy thanks so much for joining the Carpool series with Soho.
Thanks for having me.
I guess bit of a market wrap  for Hornsby. What's been happening the last kind of 30 days.
Definitely post-election, elections are well out of the way now,
but yeah, how's the market kind of performing?
Yeah, really well. So pre-election we had plenty of stock and buyers pretty much sitting on their hands really not knowing what to do.
Since the election we are now pretty much running very low stock plenty of buyers out
there ready to move, wanting to move into the area and now competing for the properties that are out there.
Yep. I guess are you finding that buyers are a bit frustrated at the moment?
It's just, they turn up to open homes.
You're seeing the number of buyers kind of come through but yet there's just not much stock for them.
Is that something that you’re seein, I guess on the buyer side.?
Yeah. Absolutely. And I think I just say to buyers,
you know, if you're interested let us know, don't wait a few days and then come back to us,
you know, obviously we will call them back after an open home,
but they need to communicate to us their level of interest
because properties are selling, sometimes in the first week.
So I recently had one sold on the beginning of Somerville Road straight after the first open.
Yeah, we had a great offer on it and the owner decided to take it.
That's good. And I guess a you're just seeing more buyers kind of come through.
I guess. You know, how many do you have like an average of buyers that come throughnper open home?
And has that increase dramatically I guess pre-election to kind of post-election?
Yeah. Absolutely. So we're seeing probably 20 to 30 buyers through each open home in the first few weeks.
So pre-election, it was quite unusual because we would tend to get less buyers
through the first week than the second week.
Whereas now we are seeing buyers getting to the first open.
So I think they're realising that they need to get out there straight away.
Yeah, I guess Spring time is here as well s a great time to sell your property.
Probably the best time of the year. What's your advice for vendors at the moment?
Maybe some of them are sitting on the fence.
Should I, shouldn't I? What would you suggest?
Look I think that any time that there are plenty of buyers out.
There is a good time to sell. I think also for a lot of people,
you know, I get asked all the time. When is the best time to sell?
The best time to sell is when you're ready.
So there's no point in taking your property to the market if you're not going to have the place ready to go,
you know, if it needs to be painted, just get it done, get those jobs done
as soon as possible and then get on the market.
There's plenty, plenty of buyers out there.
Yep. Lovely
And I guess any kind of recent sales or notable sales that you wanted to mention at all?
Yeah, so I had a sale recently in Mount Colah.
So it was a beautiful double-brick, home fully renovated.
The owners had gone to great lengths to get it ready to sell.
That one sold for $1.591 million at auction.
So that was, I think it was the second or third highest sale in the suburb ever.
So that was really good. Thank you,
and another sale in Hornsby Heights
which I already mentioned was under contract after the first open home.
So they're definitely moving, definitely moving now.
Yep Karen. Thank you so much for joining the Carpool series with Soho
Thank you, perfect.
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