Market Update - September 2022

Spring is finally here! Join Michael for a catch up on what’s happening in the market as Spring begins.

Here is what Michael has to say:

Hi, I’m Michael from Peter Fisher with a market update heading into spring.

We’ve had very good success at the start of this month, selling 16 properties in 16 days. We’re finding that the numbers of buyers are starting to increase again at open houses now that the weather is starting to warm up. The majority of buyers are local; however, there is still very healthy inquiry coming from Sydney and other regional centres.

Buyers have been worried about purchasing in a market that they think may go down, as naturally enough, nobody wants to pay over the odds. But as the weeks roll on, we are seeing some slight adjustments in price on some properties, and because there are more properties to choose from, buyers are getting around and looking at as many properties as they can, so they get the property that suits them best. Therefore, the average days on market has been slowly increasing, as purchasers may have two or three properties to consider buying instead of rushing to purchase, as it was around 12 months ago.

So, the advice we have been passing onto our owners is to have the property as well-presented for sale as possible, even if it takes a few extra weeks, because the lack of tradies and the cost to renovate is motivating people to buy houses where there’s nothing to do, and they can move straight in. The rental market is staying strong; however, there is some downward pressure on the top-end of the market.

I hope you’ve found this informative. If you’d like any further information about the current market, or if you’re not sure whether to sell or keep renting your property, please give me a call; we’re more than happy to give you some sound advice.

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!