Real estate investors looking to secure prime properties in Sydney should try their luck this Christmas season, said a market observer.
December market conditions offer buyers a "window or a rare opportunity" to get bargains for the property, said buyer's estate manager Nick Viner.
Mr. Viner stated that competition between buyers generally weakened during the months of December and January, with many sellers desperate to dispose of their properties.
"Although we have seen ad numbers fall from 30% to 45% in October in the suburbs such as Balmain, Drummoyne, Erskineville, Glebe and Leichhardt, the fact is that anyone is too confident about course at an unrealistic price and not yet sold will see the number of buyers drying up in December and January, "he said.
Mr. Viner explained that shoppers looking for a home in November usually put off their plans aside until the end of the year because they were distracted by the celebrations of the year. holidays.
"Savvy and opportunistic buyers are already preparing for the security of their homes in the coming weeks, and the best properties will have disappeared since March," he said.
For buyers to fully maximize their chances, Viner says they need to make sure they're financially ready.
"First and foremost, prepare your finances right away, when opportunities arise, you need to act quickly, stay on top of your sales proofs, and keep track of bid prices. and sales, it means that you are already well informed market value, so when a list is presented, you will know what to pay, "he said.
However, for other market watchers, real estate sellers would actually be busier than usual in the weeks to come, with buyers showing a sense of fear of losing the trend (FOMO), said executive chairman of Raine and Horne, Angus Raine.
"The fear of missing an opportunity will spur activity in Sydney until December 21, the last Saturday before Christmas," he said. "There are more buyers in open residences, yet our listings in NSW in September were 13% lower than in the same month of last year.We are now moving towards a sellers market. "
Investors are also starting to be active, especially in west central Sydney.
"In the first half of 2019, investors were scarce, but during the last quarter we saw them come back en masse, giving fierce competition to homeowners," said Raine and Horne-Newtown. . director Duncan Gordon in previous reports.
Rate reductions are one of the major factors in the growing presence of investors, he added.
Top suburbs:
mt gravatt
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Kawana
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Murdoch
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Goworthville
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Canterbury
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