Listings Drop Puts Pressure On Prices
Home buyers have been active in markets across Australia, making the most of favourable lending conditions by buying up and depleting stock levels of properties for sale.
The latest figures from SQM Research show listings nationwide fell 12% in December compared to the same time a year earlier.
The stock shortage has inspired a rise in asking prices, with the national average rising by 2.4% for houses and 0.8% for units during December.
Data from realestate.com.au shows a surge in buyers searching for properties in many states, with Brisbane recording a 63% jump in searches, NSW 50% and Victoria 36% over the year to December.
That trend is set to continue into the early months of 2020, according to analysts and agents, causing more vendors to list their properties for sale.
“When people get confident that the market has turned around and they can see the demand there, then the listings pick up,” AMP Capital’s chief economist Shane Oliver says.
You might also be interested in
Nov 3, 2023
Rosebud Primary School Mural & Creative Sparks Projects
Community sponsors are key to the success of Creative Sparks Projects and engaging with young people to contribute back to the communities they spend time in! That's why when Kyle Brightside asked for our contribution to his local Rosebud Primary School project, we jumped right in. Creative Sparks Projects aims to develop confidence, teamwork skills and self-expression skills with young people. It adds a sense of pride in local communities and encourages young people to contribute in a positive way to how their community grows and is presented. Kyle travels to communities and schools all around Australia to deliver programs to engage with young people. The end result is not only a fantastic mural that students have contributed to and connected with but also an experience that adds value to their educational experience outside the classroom. The mural design was then pieced together from the ideas the Grade 5 students shared to create a collaborative piece that highlighted key aspects of students' educational experience including the popular school camp song "Wombat on a Surfboard", the last Principal who had excellent relationships with students, parents and the Rosebud community, the iconic local wildlife represented by the Port Phillip Stingray found just off Rosebud pier across the road from the school (and also the namesake of the schools new basketball stadium). By completing the mural with the voice from the school committee and including the community values (HEART) the mural adds another layer of reflection for the students to embody the values the school endeavors to share.
Aug 28, 2023
What questions should you ask an Agent when you are selling your home?
When selling a home, it's essential to gather as much information as possible from your Real Estate Agent to ensure a smooth and successful transaction. Here are some important questions to ask your agent: 1. Experience How long have you been working as a real estate agent? Can you provide references or client testimonials from past home sellers? 2. Market Analysis What is the current local real estate market like? Can you provide a comparative market analysis (CMA) to determine the appropriate listing price for my home? What is the average time homes in this area are staying on the market? 3. Pricing and Strategy How did you arrive at the suggested listing price? What is your strategy for marketing and selling my home? Are there any improvements or repairs I should consider before listing? 4. Marketing Plan How will you promote my home to potential buyers? Do you have a plan for online marketing, including professional photography and listings on relevant websites? Will you hold open homes? If so, how often? 5. Communication How often will you provide updates on the progress of the sale? What methods of communication do you prefer? (Email, phone calls, text messages, etc) How quickly can I expect responses to my questions or concerns? 6. Negotiation and Offers How will you handle offers from potential buyers? What is your approach to negotiation, and how will you work to secure the best possible price for my home? Can you explain the process of counter offers and how we will respond to them? 7. Fees and Costs What are your commission rates and fees? Are there any additional costs I should be aware of during the selling process? 8. Disclosure and Legalities What are the legal requirements for disclosing information about my home? Can you guide me through the necessary paperwork and legal documentation? 9. Timelines How long to you anticipate the entire selling process will take? What factors could potentially affect the timeline? 10. References and Success Stories Can you provide examples of homes you have successfully sold recently? Do you have references from clients who have sold homes with you before? 11. Cancellation What is the process if I decide to cancel the listing agreement? Are there any penalties or fees associated with cancelling the agreement? Always remember that open and transparent communication with your Agent is crucial throughout the selling process. These questions will help you understand your Agent's approach, experience and strategy, ultimately leading to a successful home sale.