Wednesday, February 15, 2012

Buyer activity remains solid this week, and quality properties have remained in strong demand.

The banks' stunt in raising interest rates this week - following suit of course - was entertaining and certainly bold, the news got the headlines going into overdrive. For those of you who react to the daily sport of "who can shock the public most" and create the best negative spin of the day, and take it on board - will find this a long year. The market is still showing resilience this week.

Every day we hear that constant debate when to buy or when to sell. Sounding like a broken record, as long as you sell on the same market, this is the absolute best time to move. Ideally sell first, now is perfect for upgrading and go for that magnificent home you have always wanted. Well over 90% of you have solid jobs, reliable incomes and historically low interest rates, and prices are very fair at the moment.

To those who have been bidding at our auctions - well done. We have had an amazing start to 2012 and it is so great to see people just getting on with their lives this year. South Australian auction clearance rates for January, reported by RP Data this week, stood at 45.7%, which is considerably better than anyone would have anticipated. Our own experience supports these statistics. This RP Data report, for those punters out there, is available here. Note in particular, that the volume of new listings is down at 2,985 properties, compared to 3,361 the same time last year. However, the over all stock level is substantially up at 20,017 in January 2012, compared to the lower number of 15,150 in January 2011. What this essentially means is that there are fewer houses coming onto the market, which is strangling supply, while there is a holdover of existing unsold stock that may have been on the market for months.

A key note speaker at an International Rotary Conference who I shared the stage in Alice Springs with a few years ago  said, "IF IT IS TO BE, IT IS UP TO ME". I have remembered that saying for a very long time now, it is still as powerful now as it was back then. So for those thinking of transacting in real estate, take that saying on board - if you want to move, you have to just make the move. It is up to you, it really is that simple.

There is no "perfect MARKET time" to move house, so my "Toop's Tip" is to forget worrying about the market and simply move when "YOUR time is right." Remember, tough times are also great times.

See you on the weekend, we will all be flat out, a ripper weekend for us this Saturday. Not only do we have a heap of Inspections across the weekend, some stunning and high profile properties are going to auction on Saturday. Be sure to grab a copy of our ToopWeekly Magazine from one of our offices, or the e-version on our website, for all the Inspection and auction times. Lots of buyers out and about, an exciting time right now.


Anthony Toop
Follow me on Twitter: @Anthony_Toop
or call 0418 824 188

No comments: