If you’re targeting new property for next year, it may be time to think about 2019 and how much the market has changed.
A nationwide downturn and low interest rates were the two big reasons why agents say buyers can get the most out of the conditions but need to act quickly.
John Newlands, director of the Real Estate Institute in Queensland on the Gold Coast, said buyers had regained their confidence after a shaky start to the year.
Mr Newlands said that since the election and the Royal Banking Commission, buyers have returned and realistic sellers can benefit from their willingness to buy.
“Lenders have settled in and there are very low interest rates for buyers,” he said.
“The infrastructure on the Gold Coast gives us more depth than in the past.
“Sellers need to be realistic and don’t think prices will go up.
“It’s a healthy market (on the way to 2020), you don’t have to be above the market, you have to be in tune with it.”
Mr. Newlands said good marketing and presentation are key for providers.
Michael Kollosche, director of the self-titled agency, said there will be limited stocks in the Gold Coast market by 2020, which means that both buyers and sellers should change their approach.
“Buyers who want to buy property have to be a little more aggressive,” he said.
“It is definitely the impression that the market is moving upwards. If you are not in a hurry, you will probably regret it as you see property prices go up and pay more for inferior properties.”
According to Kollosche, low interest rates have been a catalyst for sellers to keep their properties, resulting in a lack of supply and slowly rising prices.
“We find that most sellers see increased interest in the first three to four weeks (after the listing),” he said. “Premium buyers usually appear at the start of the campaign.
“It is important that you carefully consider the price and sales method when you first come to the market. “
Source: themediatimes.com