Looking at bringing your property to market in 2019? Australia’s leading auctioneer Damien Cooley gives some very honest advice for vendors early 2019
Damien predicts that vendors will list early 2019 well before the state election in NSW and to pinch buyers that are looking early in the year.
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Here’s the transcript of the video:
I'm a seller looking at coming to the market 2019 what are the opportunities for me I think early in 2019 is going to be a challenge I feel like we've got particularly in New South Wales we've got a state election coming up I think it's the 23rd of March we've got a federal election that's likely to be taking place in May traditionally around election time markets tend to put the brakes on I think that the brakes have already been put on from the middle of 2018 the brakes have been on pretty hard in December 2018 and we've seen more stock hit the market during that time I think that those vendors who are coming on the market in 2019 will probably try and come on as early as they possibly can we've already got auctions booked in for the end of January and the beginning of February that's a little bit earlier than normal yeah we'll see vendors who who tried to get on early and pinch those buyers who are who are looking early in the new year but I don't think that there's a lot of good news that's going to be coming out of the market in early 2019 I think we need to wait and see what happens with these elections I think that there is general uncertainty in the market we've seen that in the stock market over the course of the past couple of weeks we've heavy heavy downgrades and horses that have been in play and that's exactly the same in the real estate market so I don't think it's the real estate market on its own I think that everyone is a little bit unsure about what 2019 will will bring our market relies on confidence when people are confident about their job if people are confident about the economy people are confident about the government that is leading our country that's traditionally when you'll see the real estate markets rise yeah I don't think you can take any of those boxes in early 2019 yeah sure Damien Cooley thanks for joining the proptech carpool with Soho my pleasure. Thanks for having me
