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Aris Dendrinos Marrickville Market Update November 2016

November 29, 2016

 

Hi. My name's Aris from R&W Marrickville. Welcome to the November market update. We've noticed a very interesting phenomenon occurring in our office in the greater area. I think across Sydney, this is actually happening. Had a very busy year. Very, very strong market. Lots of very aggressive prices and price rising. As a result, we've noticed quite a few buyers have actually given up. They've actually abandoned the market, not purchased a property but stopped looking for the rest of the year. As a result of that, we're noticing less numbers at our opens. At the auctions, registrations, it's been a little bit easier for the buyer to not compete against a large number of people.

My advice to the buyers out there is if you have stopped looking, I think you may be surprised if you've re-entered the market to see what it's like. For the ones still in the market, keep going because I can tell you right now, we've done an exchange in our office on Christmas Eve nearly every year for the past 10 years. It's a very common occurrence. There will be sales activity right up to the very, very end of the year. For me, I think it's very important buyers do that because next year, it will be back into bigger numbers. There will be more stock to look at. It won't be an easy market for buyers next year, I think. I think this is a little window of time for you to take advantage.

That's the main message for this month. Keep an eye out for us in December. I'll talk to you very soon. Bye for me.