Real Estate Update

Now is a great time to sell. The inner-city property market is currently experiencing a severe shortage of available properties and a number of buyers competing for limited availabilities.

Q1. If I’m looking at selling my property, is now a good time to sell?

Now is a great time to sell. The inner-city property market is currently experiencing a severe shortage of available properties and a number of buyers competing for limited availabilities.

Q2. Is there any value in spending money on marketing when selling my property?

Most definitely but your agent must know how to target the market and managing the spend effectively. Knowing your target audience and how to cater to them is important to create a lasting imprint on the buyers, to try to maximise the return on investment. There are many channels to effectively market a property and we are constantly embracing more channels as they become available.

Q3. Is selling via auction a good strategy at this time? Or should I sell via private treaty?

Auction is great in the current climate where properties are limited, helping create good competition for the property. Having the buyers compete on the same terms and a clean contract is advantageous to a seller in any market.

Q4. In general, what are you seeing? (Are your open houses full? What’s the average time on the market? Are sellers getting what they hoped for?)

As an inner-city agent, we are seeing high numbers throughout most of our open homes. The apartment market is strong but so are townhouses and standard houses too. The increase in people through open homes are a direct correlation to current shorter times on market, as well as premium prices for our sellers. We are generally only on the market for 18 days for standard properties, so for the buyers, it pays to get in first.