WHY SELL NOW ?
Market conditions have definitely become a bit more complex in 2022 , after the once-in-ageneration boom we saw in the Australian property market throughout 2021 .
While many people believe the twilight of this growth phase is now , many cities and regions continue to show growth but naturally there ’ s some caution at the start of an interest rate hike cycle on the back of high inflation .
Many people will ask themselves , is it best to take advantage of current selling conditions so you can comfortably move into the next phase of your life ? Or should you wait it out and see if prices continue to rise ? But will that make purchasing your next property even more expensive ? It ’ s all really confusing , and there ’ s plenty to weigh up . What we do know for sure is that we have fewer homes for sale . This is good news overall as it will mean less competition when you go to sell .
When markets enter a new cycle , there are typically less new listings coming to market as sellers are more cautious . This lack of new stock on the market creates a challenge for buyers to find quality property . For these reasons , in a slow market , highly desirable properties are well sought after and will often defy expectations . That ’ s why we still believe now is a good time to sell .
The number of new listings across our group in Australia fell by 10 per cent in April , and this means we kicked off May on the leaner side . This is good news for all our sellers as there ’ s less options for buyers . We know we have an average of at least four registered bidders per auction right now , and two of them are active bidders . These metrics are slightly above our long term averages and show that we still have plenty more buyers than sellers .
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