Monday, September 26, 2011

Weekly Wrap up - First Home Buyers Rule...

We held 8 open houses on the weekend with 27 attendees. Lowest priced property via private treaty was $315,000 with the highest $565,000. We also have two auction properties going to the market on 6th October with price guides above $325,000 and $800,000 respectively. Most activity is in the first home owners arena with concerns about the removal of Stamp Duty concessions for First Home Buyers from 31st December fueling activity. In addition we had 1,638 unique visits to our properties on the web.
We sold 3 properties.
Auction clearance rate for Sydney was 59% with Melbourne 53%. This is marginally up on last weeks figure for Sydney (57%) and down for Melbourne (down from 57%)
The first home buyer trend is set to continue.
What do we make of this? Our sales team tell me buyers are still out there despite generally negative media about overseas issues. That tells me East Coast Aussies have money in their pocket and a cautiously optimistic view. Correct property pricing is paramount with buyers shunning properties overpriced by even a small amount.
If you are considering selling and your property is under $500,000, I would recommend you talk to us about listing your real estate now - to sell before these concessions are removed.

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