Why now is the perfect time to sell
By David Melatti @ VIP Consulting Real Estate
These strange times have prompted many questions surrounding the property market over the last couple of months. One of the most frequently asked being, ‘is now the right time to sell my house?’
Covid-19 has affected so many factors of our lives; however from what we have seen at VIP Consulting Real Estate, buyer interest across different property markets has been affected, depending on the type of property for sale. However, some homes have witnessed an unexpected influx of enquiries with regards to property purchases. Driven by record-low interest rates, this huge demand for established properties is being met with a low supply, which means now could be the perfect time for you to sell.
Different to the media’s prediction of a significant price drop, we believe the market will stay reasonably steady throughout this period.
Why? There are a few key factors driving this stability.
1. The Inner suburbs to middle ring suburbs overall has had steady growth for the past few years, and demand for close proximity to transport and shopping hubs is as important than ever
We are seeing high demand for property, powered by avid buyers and low supply of properties. The prices are holding their value despite any external factors that usually affect them. Far from the unlikely prediction of a 15-20% drop. The media’s doom and gloom forecasting has scared off potential vendors, so much so that it’s keeping the prices stable due to basic supply/demand economics.
3. Most types of townhouses, villas and houses, have been actively selling during this crisis. The key is to know that good properties like typical family homes and functional homes in the core suburbs, will always sell. With the high demand and low supply chains we are currently experiencing, it’s these types of properties that will sell but will also hold up the median price value across the real estate market.
4. Deciding on the right time to sell is dependent on a variety of factors and each person’s situation is unique. However, if you are contemplating selling your home and have been questioning whether or not now is an appropriate time to secure a good price, it’s our belief that it is just as good a time as ever. The current real estate climate has most certainly changed and will continue to do so, but this time shouldn’t be overlooked- It might just be the opportunity you’ve been waiting for!
Interested in seeing if there is an appetite for your property in the market? We can drop by and provide you with an appraisal without any obligation to take it further.
Get in touch, we’d love to hear from you. Call David for a virtual assessment, and no obligation free consultation.