Proptech Carpool – Opportunities for Vendors in Coogee 2019 ft. Nick Wise

June 21, 2019

Nicholas Wise from McGrath breaks down the opportunities that vendors can gain in Coogee in 2019.

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Here’s the transcript of the video:

Let's say I'm a vendor at the moment.
I mean, you’re obviously dealing with a lot of them, I guess
What are the opportunities for some vendors now, and I guess post-election as well?
Look, I think at the moment
what we're seeing is a real lack of stock. Levels are down, sort of, around
that 35% mark from this time, last year.
Yes, we've got an election coming up, which will play a factor in it.
But, across the board, we are seeing very, very low stock levels.
So, I think vendors or people that are considering selling now, if they
can recognise that, they notice that, you know,
there's still a lot of buyers out there. There's still a lot of very
qualified people that need to buy properties,
whether it be, you know, for tax reasons coming up to the end of the financial year,
you know, relocation. Yeah,
all different kinds of reasons that they might want to move into a property
but, we're seeing, there's not a lot of properties out there
for people to choose from
so we're seeing very, very strong numbers through our opens, you know
first open for inspection we had for an apartment down in Coogee on the
weekend; 27 groups through, 4 contracts went out.
We've already had an offer in the first week,
and that's because there's nothing else
for them to choose from right
now, and we're driving buyers through all those properties
and that's the feedback that they're giving us the at the moment.
So, that's definitely what I think is one of the major
benefits of maybe putting on the market sooner
rather than later in the current, sort of, environment without worrying.
I also think the weather’s still good, you know, it’s not the middle of winter.
But, you know, Coogee and this lifestyle,
you know, you can sell properties any time of the
year. So, I don't think the federal elections going to have
too much of an effect on our current market
because being in the eastern suburbs, I find, it’s
very, very resilient, and whilst it is contracting some ways,
the good properties are still selling very well. And as I said,
we're still getting good buyer numbers through and yeah.
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