Tight as tight can be- GRIDLOCK

September 20, 2010

What an amazing market!

We have buyers for sure, many that need to sell. As Applecross blows out to 145 days on market, and Mount Pleasant 117.3, Ardross 84.3 and Booragoon a low 68.9, we see many of the aspirational trade up buyers in Applecross say, wow, subject to sale is not going to happen, I will have to do a bridging loan or a long settlement.

That has the effect of meaning many buyers come in low factoring in their risk and hold costs.

Some sales are happening at or below 3 years ago values.

Buyers that can buy I say, “jump in now and buy”. Value is OUTSTANDING.

Sellers, if the price offered allows you to move, then move. You can grab an outstanding value property at the other end.

I can see as soon as a smidgen of confidence comes back, buyers will be fighting for good properties again. That is not far away. I encourage buyers to jump in while competition from buyers is lower, and take advantage of good stock levels.

See you in the market place. …Ian B (Ed)