Sydney Property Market Update 24/11/2018
Summer - 7 days
Christmas - 32 days
New Year's Eve - 38 days
Just in case your heightened sense of anxiety needed a quick short sharp jab, those three dates above should do the trick.
With the year disappearing in a puff of smoke before our very eyes I have FINALLY started to see signals in the market place of people making decisions and getting on with their lives.
Owners are coming well and truly over the advantage line to accept offers they aren't happy with, in numerical terms, but allow them to move on and do what they originally intended.
And more and more buyers realising that when push comes to shove you can wait as long as you want for whatever it is you think or hope will happen, but the simple fact remains the vendors own the property and if you wish to purchase it from them, there needs to be some degree of reciprocity or they won't oblige.
I tend to call it the game of musical chairs which occurs the same time every year irrespective of the market we are selling in.
What happens is the music stops (i.e. no more new properties are listed to view) and both the buyers and owners start scrambling to find a chair to sit on before business ceases trading on 24th December 2018. And yes, in the past 22 years I've been selling I can frequently remember driving all around Sydney on Christmas Eve frantically getting buyers and sellers to exchange contracts before they go on holidays. One year I had an owner turn around on the Pacific Highway at Newcastle and meet me at Gosford to sign on the back of my car because the buyer had belatedly met his price.
For those that miss out, the next opportunity tends to occur around the end of January in the New Year.
There's nothing like a firm deadline to prompt action!
Have a great weekend and I'll see you next week.
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