December has long been known as the best time of year to negotiate hard and buy real estate, with Vendors wanting to exchange before the market closes for Christmas and doesn’t open up again until February.
Traditionally, most real estate agents are on leave or are working with skeleton staff from around the 20th of December until early February with not much happening over this time but this year looks like it may be different.
With the current market conditions of record low interest rates, larger numbers of homes advertised for sale or being sold off market, prices down approx 5 – 7% and favourable exchange rates, expats are snapping up property at well below what they would have had to pay 6 or even 3 months ago. These conditions are allowing many to purchase homes they could simply not have dreamt of buying last year.
These conditions are also great news for savvy local buyers with Vendors now ready to ‘meet the market’ meaning they need to accept a more realistic price than they had expected. In this market, many Vendors are choosing to sell their home or investment properties off market or unlisted to avoid having open inspections every week and the embarrassment of selling for well below The Joneses. This is one of the many reasons why many buyers are using a buyer’s agent such as Unlisted Property Buyer’s Agent.
To take advantage of the current market conditions and buy your dream home, on or off the market, contact Unlisted Property. If you would like to read a little more about how expats are snapping up bargains read this article from The Australian Financial Review