Post-Election Mood Moves Market
Since the somewhat surprising results of the Federal election, we have had a resurgence of buyer enquiries in the market. More vocal than in the previous 8 months, buyers are now increasing their activity and are ready to make their move.
Traditionally, winter weather quiets the market, but with the Morrison government shelving reforms to negative gearing and capital gains tax, the market is once again heating up. Additionally, lowering interest rates and levelling property prices make this new investment season more attractive to buyers than it has been for some time.
So how does this translate to potential sellers? We always remind vendors who are considering a mid-year sale to keep in mind the simple rule of supply and demand. It is a common misconception that a spring sale, when your garden is looking its most beautiful, is the prime time to sell your home. There are some properties where this does hold true, however, most homes can be sold year-round. This means that a winter sale, when there is lower housing supply, may increase demand from active buyers and create competition for your property. As a result, there is a greater probability of driving your property price upward.
Closer to home, it is well worth noting the major road works underway in and around Penrith. There is no denying that Sydney’s second airport is making a mark on our city. This begs the question, what impact will this have our housing market? Have no doubt, savvy buyers will be aware of the future growth and will be eyeing our burgeoning market.
Investment in growth corridors is a key component to successful property purchases and should bode well for vendors now and in the near future.
With so much to consider, we invite you to contact one of our local area experts for free advice. But given the trifecta of low housing supply, increase in buyer interest, and infrastructure works in and around our area, we believe this is a winning time for a winter sale.
Sharon Mudiman, Licensee and Principal of Bespoke Realty Group has been negotiating the sale of property for over twenty-five years in the Greater Penrith Region.
Bespoke Realty Group | p: (02) 4737 9977 | f: (02) 4737 8627 | m: 0413 757 998