The buzz and hype of disappointed buyers seems to have left the media, for the time being.
Maybe there is confidence back in the individual as the reality of a stable, albeit growing, property market has finally cemented itself in the heads of prospective buyers – not used as a deterrent.
On a professional level, the open homes aren’t dense with groups, as they were, but the numbers are thicker with actual prospecting buyers. It may be that the ‘tyre kickers’ are no longer, and the genuine people are the leftovers from the intensely unpopular media frenzied buying glut.
Notwithstanding the media, gossip or hearsay from agents, the weekly Auctions still remained around the 80% mark with a total of 411 properties sold under the hammer at 81% ‘clearance rate’.
Of this 704 listed Auctions, 478 actually took place at the weekend taking the median property price in Sydney to $975,000.
This median price reflects stability, confidence and should be a strong reminder of the security in the Real Estate market and should not be viewed with disappointment. There are still deals to be had, properties which would not normally be up for sale are selling under the hammer providing opportunity in both high and low extremes.
… Buy, sell and be vigilant.
Thomas Merriman.
Thomas Merriman 