The Times Australia
The Times Real Estate

.

Auctioneers have slots booked right up until Christmas

  • Written by Tim McKibbin, CEO of the Real Estate Institute of NSW (REINSW)

Seller and buyer expectations will be tested this week. It means agents will be tested  too.

Agent reports suggest the middle ground between buyers and vendors has been harder  to find in recent times. The last few weeks have delivered a shift, and vendors should be mindful that while price growth has peaked, they’ve most likely already enjoyed the  benefits of the boom in the form of capital growth.

Buyers, empowered by more choice and cooling prices, are showing a greater  willingness to walk away from potential purchases if they don’t recognise value for  money. 

Unrealistic price expectations will work against vendors. It’s critical for vendors to listen  to their agent, who best understand a buyer’s motivation and expectation of value.

After all, buyer appetites remain strong. The festive season wind down has not  happened this year, at least not yet, and auctioneers have slots booked right up until  Christmas.

It may be a new market, prices may be re-setting, but activity remains intense.

Around four in 10 properties scheduled for auction are selling prior. Clearance rates  have dropped from the 80 percent mark to the low-to-mid 70s and we expect a similar result this week.

With more deals being done during the week, there’s less focus on Saturday. Agents are  best placed to provide vendors a temperature check leading up to auction day and if a  good offer is received prior, agents will recommend vendors take it.

A month or two ago, some auctions had up to 15 registered bidders. Now, a more likely  scenario is that two to three bidders will compete. 

Agents may have to work harder to get their vendors a good offer and in the new  market, a good offer is what vendors should expect.

Property Times

Rubber vs Concrete Wheel Stops: Which is Better for Your Car Park?

When it comes to setting up a car park in Perth, wheel stops are a small feature that make a big difference. From improving driver accuracy to preventing costly damage, the right choice between rubber and concrete wheel stops could save you time, mon...

What Is the Australian Government First Home Buyers Scheme About?

For many Australians, buying a first home can feel like a daunting task—especially with rising property prices, tight lending rules, and the challenge of saving for a deposit. To ease this burden, the Australian Government has introduced a First ...

Flipping vs. Holding: Which Investment Strategy Is Right for You?

Are you wondering whether flipping a property or holding onto it is the better investment strategy? The answer isn’t one-size-fits-all. Both strategies have distinct advantages and risks, and choosing the right one depends on your financial goals, ...

A Guide to Smarter Real Estate Accounting: What You Might Be Overlooking

Real estate accounting can be a complex terrain, even for experienced investors and property managers. From tracking rental income to managing property expenses, the financial intricacies of real estate demand more than just basic bookkeeping. A si...

Times Magazine

Building a Strong Online Presence with Katoomba Web Design

Katoomba web design is more than just creating a website that looks good—it’s about building an onli...

September Sunset Polo

International Polo Tour To Bridge Historic Sport, Life-Changing Philanthropy, and Breath-Taking Beau...

5 Ways Microsoft Fabric Simplifies Your Data Analytics Workflow

In today's data-driven world, businesses are constantly seeking ways to streamline their data anal...

7 Questions to Ask Before You Sign IT Support Companies in Sydney

Choosing an IT partner can feel like buying an insurance policy you hope you never need. The right c...

Choosing the Right Legal Aid Lawyer in Sutherland Shire: Key Considerations

Legal aid services play an essential role in ensuring access to justice for all. For people in t...

Watercolor vs. Oil vs. Digital: Which Medium Fits Your Pet's Personality?

When it comes to immortalizing your pet’s unique personality in art, choosing the right medium is ...

The Times Features

Do kids really need vitamin supplements?

Walk down the health aisle of any supermarket and you’ll see shelves lined with brightly packa...

Why is it so shameful to have missing or damaged teeth?

When your teeth and gums are in good condition, you might not even notice their impact on your...

Australian travellers at risk of ATM fee rip-offs according to new data from Wise

Wise, the global technology company building the smartest way to spend and manage money internat...

Does ‘fasted’ cardio help you lose weight? Here’s the science

Every few years, the concept of fasted exercise training pops up all over social media. Faste...

How Music and Culture Are Shaping Family Road Trips in Australia

School holiday season is here, and Aussies aren’t just hitting the road - they’re following the musi...

The Role of Spinal Physiotherapy in Recovery and Long-Term Wellbeing

Back pain and spinal conditions are among the most common reasons people seek medical support, oft...

Italian Lamb Ragu Recipe: The Best Ragù di Agnello for Pasta

Ciao! It’s Friday night, and the weekend is calling for a little Italian magic. What’s better than t...

It’s OK to use paracetamol in pregnancy. Here’s what the science says about the link with autism

United States President Donald Trump has urged pregnant women[1] to avoid paracetamol except in ...

How much money do you need to be happy? Here’s what the research says

Over the next decade, Elon Musk could become the world’s first trillionaire[1]. The Tesla board ...