The ‘hot’ real estate property market in Sydney will virtually come to an end by Christmas.
However, if you were a buyer in this market, the time to buy is now, Christmas!
As many properties that have been listed over the December period have struggled to sell and will struggle to reach the owner price expectations by Christmas Day.
The Sydney Auction clearance rates have adjusted and now starting to track backwards from 80% plus auction clearance rate over the majority of the year, to now 71% last weekend.
For the first time in 2014, we have seen the supply of property starting to outstrip the number of real buyers in many pockets of Sydney.
When there is property choice for buyers, the price ultimately set by the vendors will also need to be adjusted lower to achieve a sale now by Christmas.
The frenzy of buying in a hot Sydney market over the last 18 months, is no longer there.
As per a quote in my new book “Secrets of the Property Expert” available in all good book stores in early 2015.
If the markets are hot,
don’t follow the crowd
or you’ll get burnt.
The property market is adjusting and be prepared for a change in 2015.
It’s a simply property mathematical equation;
More properties on the market = adjusted expectations selling prices.
For more information, help and advice.
And to register for our new book;
‘Secrets of the Property Expert – Your Real Estate Survival guide
Merry Christmas and all the best for the New Year