Market Update - August 2022

Welcome to our Market Update for August 2022 with Chris Mason

Here is what Chris has to say:

Hi, I’m Chris from Peter Fisher Real Estate. Today, we’re here to give you our monthly market update. So at the moment, we’re in a bit of a changing market. One of the biggest important things that you can look at doing for your property right now is make sure that you’re set to sell. And we mean that turnkey properties are selling really, really well in this market still. Quality is still selling, so take the time, prepare your property, declutter, paint those things that you need to, and look at any maintenance items that need addressing. These will really help you, not only get the buyers through the door, but they’re going to help you get a better sales price in the end.

In this market, patience is a little bit of a key. Last year we saw a lot of properties that were selling in a week, in days, in two weeks. The market has changed a little bit, which is also a great buying opportunity for people who maybe last year missed out in the hustle and bustle, who are looking for a really good quality property. Take the time, inspect some properties, give us a call. We can take you through the process and try and match the right thing to you.

A bit of advice we’ve got for you at the moment, is look to get on the market sooner rather than later, if you are going to sell. The feel in the market is there’s going to be a lot of properties hitting around springtime, towards the end of the year. Which is great, it is a good time to sell in Orange. But at the moment we have a few less properties, that maybe we’ll see later in the year. So if you’re considering selling a property, give us a call now and start that process.

Okay, so everyone’s talking about interest rates at the moment. It’s obviously a huge topic that’s happening in the market. Yes, it will have an impact. Things have slowed down a little bit because of that, but it’s also a great opportunity to buy. It’s going to do two things. It will slow down the time it takes to sell a property, so things might take a little bit longer. So patience is the key for both buyers and sellers. Good properties are still selling. We had a sale well over the $2 million mark only a couple of weeks ago. We’re selling plenty of properties and ticking through, so a bit of patience will go a long way in this market.

Just another little note on interest rate changes, it is going to affect borrowing capacities. It’s something we’re talking to a lot of mortgage brokers about, and a lot of buyers about. We are still finding, though, that people who are looking actively to buy a house are still buying. They’re just reassessing potentially what they’re going to buy. So the people looking for a $900,000 house might now be looking for an $850,000 house. So keep in touch. We have the right house out there for you. We have plenty coming. Give us a call, and hopefully we can help you with your real estate experience.

We hope you’ve enjoyed our market update and found it informative.

If there’s any real estate question you would like our agents to answer, please don’t hesitate to contact us to let us know.

We would love to hear from you!