Sydney Property Market Update 10/11/2018
I have a bit of a theory at the moment which goes like this, "the eyes are two steps ahead of the brain."
What am I referring to?
Put simply, I feel like in many instances in life what we "see" is affecting how we feel far more quickly and strongly than what we "think."
The most common area I see this is buyers judging a property's merits based on what the photos look like online, where it is located through google maps and what the asking price is or in some cases isn't (i.e. there is no advertised asking price).
Is this a good thing?
If you ask an ageing Generation X’er like me with three kids, no I don't think so.
What we see should really be only the first impression of what we then think straight afterwards, not the entire decision-making process.
I've seen many people rule out homes that I think could be highly suitable based on what their initial visual impression is remotely.
The best example I can give you was when I sold two apartments that looked in to each other's balconies but were at totally separate addresses.
One was at 385 New Canterbury Road and the other 99 The Boulevarde Dulwich Hill. Visually it was a no contest, one is a quiet tree lined street surrounded by established period homes, the other a very busy main road with office buildings and other apartments side by side. And yet the two apartments had pretty much the identical outlook and position. The one in The Boulevarde attracted far more groups and sold more successfully than the other but, in my opinion, both were very similar.
This could only be discovered by inspecting them and that is my advice to many buyers. Don't just focus on what your eyes tell you remotely but try to drill down a little further. By broadening our ever decreasing attention span you may be surprised with the results.
If not, we could end up in a situation where properties are swiped left on buyers’ phones like Tinder dates because they failed the three second visual interview.
That's it from me. Have a great weekend and I'll speak to you next week.