It’s been another busy quarter in real estate.
The markets across some of our major capital cities (Melbourne and Sydney) posted some of the first property price increases since 2017 and after what had been one of the more dormant markets they’d seen for some time, it was a promising and exciting indication.
These market improvements haven’t yet found their way to our region, which is yet to see any significant increases in prices. However, that’s not all bad news, as we were not exposed to the same decline that those capital cities were, to begin with. What we did see was our property market flatten in terms of “average days on market”, “volume of property transactions “, and “general buyer demand”. However, despite this, our markets across the Baw Baw shire have managed to hold their median price points respectfully, contrary to our metropolitan counterparts.
Property availability (or the lack thereof) has still been a talking point for our market this quarter. But the spring rush and pre-Christmas deadlines provided some reprieve, with a number of year high listing months rounding out 2019 and bringing relief and excitement for many home buyers.
Listing a house over the Christmas period is often spoken about with trepidation. There is no arguing that many people choose this time to head away and holiday out of the area, that said, it’s also the time when people often begin their property journeys. The holiday season provides many with the opportunity and time to actually start looking, setting goals and having genuine discussions about what their plans are for the year ahead. To highlight this point, realestate.com.au report that the month of January is in fact, the most visited month of the year for their website. So although physical inspections/OFI’s may be less successful during this period, there is still a strong reason to list your property and take advantage of the holiday enquiries!
If you want to know the value of your home, contact Clark Next Real Estate today.