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.
