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What happened to the market in August 2019?

By Jessica Ridder
We are about to enter the prime real estate selling season and it is fair to say that the great Australian love affair with real estate is back!
What we have found, year after year is that as the weather gets warmer, so does our demand from buyers. If you have been thinking about going to market soon, check out our Auction spectacular below.
There’s no doubt confidence is higher since the election result, and with interest rate cuts and banks opening the doors again both buyers and vendors are confident to buy and sell again, you can clearly see this with the number of registered bidders at auctions and buyers coming through the open homes.
In NSW, data from Domain’s Homepass platform suggests more people are attending open inspections with the number of check-ins per property up 7.3 per cent over June. However, sellers still seem cautious, with new listings down 16 per cent over the month and 22 per cent over the year, this is expected to turn around over the Spring selling season.
Stock levels remain quite low across the Upper Mountains which means that competition for properties is high, we are seeing high inspection rates when a new property hits the market. It’s a great time to be putting your property up for sale.
If your plan is to be sold, settled and moved into your new home in time to watch the Boxing Day Test, here are some dates that might surprise you:
2019 Last Business Day: 24 December 2019
Standard 42 Day Settlement/ Completion of sale: 12 November 2019
4 Week selling period: 15 October 2019
2 Weeks to Prepare Marketing Material: 1 October 2019
The time to act is now.
Consumer confidence has recovered, fuelled by a combination of dramatically improving auction clearance rates, low stock numbers, record low-interest rates and solid momentum returning.
For a more detailed Market Report for your suburb or to register for our October auction please call the office on 02 4787 8797 or email jessica.ridder@raywhite.com
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