News & Media

November 24, 2014

Great today - Gloom tomorrow?

Have you noticed how fast the tide of commentary can change when it comes to property? In October it was ‘bumper’ but now just a few weeks later the predictions are focusing on gloom rather than boom. Can it really turn around that quickly? (read more)

No. I don’t think it can and especially not here in The Highlands.

It’s one of the dangers of our increased ability to analyse the market that any movement, indeed EVERY movement, is considered the beginning of a new ‘trend’.

We are fed information every week on listings, scheduled auctions, successful auctions, highest price, price above reserve and price growth. They’re all interesting and relevant facts that potential buyers and vendors would do well to monitor. I certainly do.

However the numbers don’t tell the whole story so they shouldn’t be viewed in isolation. It might sound trivial but a stinking hot weekend like we have just experienced will have an impact on the number of people viewing property as will Bong Bong Races and even the Melbourne Cup.

So one weekend, or even two or three weekends, where the numbers appear down does not automatically mean the market is doomed.

And no I’m not simply being an overly optimistic real estate agent. I’m being realistic. The market will move up and down. Of course it will slow down after a hectic Spring. That doesn’t mean we’re doomed.

So by all means follow the commentary and watch the numbers but remember to keep things in perspective. And if you’re not sure what it all means feel free to give me a call and I’ll help talk you through