We have had a fantastic start to the 2019 year with two great sales and one property leased after the very first inspection.

23 Elston Ave Denistone SOLD for $2.4m

11/46 Fontenoy Rd Macquarie Park SOLD for $1.1m

9/29 Forster St West Ryde LEASED after first open for $450 per week

Since our first open home on 7th January we have experienced increased buyer numbers compared to the end of last year and my feeling is that buyers are now realising there is value to be had in the current market.

Since my end of market wrap last year we have seen APRA scrap the limit on interest only loans as of 1/1/19 so it will be interesting to see if we see investors start shopping again.

The main issue we are experiencing at the moment is the tighter lending restrictions for owner occupiers well as investors which also can mean longer cooling off periods and just things taking longer to move forward overall – a lack of urgency and also a fear of paying too much.

We don’t have long to wait to see what the recommendations are from the Banking Royal Commission which will be handed down on the 1st February, so that will be interesting.

We also have an election coming up which always signifies uncertainly with the main one for property relating to the scrapping of negative gearing by the Labour government should they get in.  There are arguments for both sides so once again only time will tell. Could it give a little kick to the market if they provide a deadline and people want to buy an investment that they will be able to negatively gear? Or will there be more stock because people want to sell their investment properties believing they won’t be worth as much?

What people need to keep in mind that no matter what the market is doing people still need to buy and sell and as I always say, if you are buying and selling in the same market – there is really no issue.

More From Our Blog

Feng Shui

Maximising Your Home’s Selling Value

When selling your home, we know that your number one priority is maximising your home’s value. If you want to know the secret to getting more for your home on auction day, we’re here to help with that. One of the best ways to ensure you sell your home quicker and increase your profits exponentially

Read More
Buy

Two months in already – you be the judge

The last day of summer……already? I am sure many like myself are somewhat relived with the cooler weather we have experienced this past week or so. School is back in full force, holidays are forgotten and we are all looking forward to the Easter break! With two months gone we have been really busy in

Read More
Buy

First real auction results

Today’s auction result gave us a better indication of the market compared to last week given the amount of properties auctioned. This week we saw 295 scheduled auctions whereas there were only 110 last week. With an auction result of 57% is tells me that buyers are seeing value and vendors are prepared to meet

Read More