How’s the market? It depends!

So…how’s the market going? If you own property or are considering buying or selling this is a question that I’m sure you have asked often. The answer to this question is, it depends…..

It depends on several things starting with, which market are you are in?

There are approximately 450 suburbs in Brisbane and surrounding areas so that means that essentially there are over 450 micro markets and they are all a little different in their dynamic and desirability and they all perform differently.

The second thing to consider is what type of property do you own? There is a big difference in demand between stand-alone homes and a unit or townhouse.

The third thing to consider is your own personal circumstances. Will the sale or purchase of a property improve your life? So next time you ask the question, be more specific and don’t just listen to the doom and gloom reports that are streaming out of the media because you might just miss out on a great opportunity.

For example, if your interest lies in the Moreton Bay region, we are experiencing the strongest demand for property that we have for more than 12 months. Some of the reasons for this demand are because of:
– interest rates,
– the outcome of the banking royal commission,
– affordability,
– the outcome of the recent federal election.

Another major driver is infrastructure and population growth.

So, what does this mean for you? If you are selling you could expect a good price for your home and plenty of competition. If you are buying, you can feel confident that the market will continue to grow for many decades. As an investor….you can expect a good return on your investment and along with owner occupiers you will enjoy strong capital growth into the future.

The Moreton Bay region is one of the fastest growing regions in Australia and if you would like to learn more about our beautiful region click here to view the Moreton Bay Region Economic Development Action Plan

Why Print Doesnt Add Up

The internet has just about killed off newspapers world wide. With it has gone the rivers of gold – the classifieds.

Classified advertising for cars, real estate and jobs all underpinned newspaper’s profits.

The rivers of gold for newspapers also created rivers of gold for estate agents. Agents packaged up expensive and largely needless print campaigns that home sellers were convinced to pay for upfront.

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The Price Game

It wasn’t so long ago, when a homeowner decided to sell their property the agent would advertise it for the agreed price. The price was set by the agent in consultation with the homeowner.

The advertised price was simply the price the owner wanted – it was straightforward, transparent and honest. Why has the advertised price of many properties today become so misleading?

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Highest Price

The goal when you list your home for sale is to achieve the highest possible price for it.

This seems like an obvious goal for any home seller, yet it is often lost during the campaign.

Agents will focus on days on market, clearance rates or the reserve price. None of these indicators should ever supersede the vendor’s ultimate goal,

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Price Your Property To Move

You have a much better chance of selling your property quickly and for more if you price it to meet the market in the first weeks of the marketing campaign.

This strategy is much more successful than pricing it high and hoping that someone may pay that ‘premium’ price.

You should always be careful of an unscrupulous agent promising you an unrealistic price.

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Confidential

 

Nearly every buyer asks the question – “Why are the owners selling?” The answer to this seemingly innocent question can have far reaching effects during any negotiation process.

Buyers are always amazed how often an agent will disclose the personal details of their paying client, the homeowner. Innocuous responses such as ‘the owners are going their separate ways’ or ‘they cannot afford to hang onto this investment home anymore’.

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