I am in a dilemma to sell my house, want to upgrade to a bigger house. I have been getting calls from agents suggesting it is a seller's market and it is a good time to sell. Has anyone sold a house in Brisbane recently, how is the market ? Is it really a seller's market? Secondly is this time of the year good to sell?
Brisbane Property Market
Shaunf on 13/10/2020 - 10:41
Comments
Exactly and hence this post
Go to another agent, tell them your in the market to buy, ask if it’s a good time to buy. They’ll tell you it’s a buyers market I’d assume.
If not, maybe it is a sellers market, I doubt it though
It would be funny if he goes back to the same agent as a buyer.
Check out Martin North's youtube channel he updates this stuff regularly. If it were a sellers market the RE agents would be flat out, or do they mean all the sellers are trying to get out? :) Could be taken either way I guess?
https://www.youtube.com/c/WalkTheWorldDFA/videos
https://www.youtube.com/c/IntheInterestsofthePeople/videos
On the other hand, if you need a bigger house and can securely pay for it (or the loan) in the face of what is coming then why not? Better yet if you can do it without debt then the fluctuating prices shouldn't worry you too much.
Personal opinion based on well nothing, but I have trouble seeing it as a sellers market. I do think there's a lot of new home buyers out there trying to get a place thinking the prices are down a bit, but because of that I feel its kept the prices stable instead (among a number of things). So while I don't think prices have dropped hugely I also wouldn't say its a sellers market either.
Then again I don't know much about Brisbane.If you're selling to upgrade, it doesn't matter too much since it can't both be a sellers and buyers market.
Yes it can depending on the area in which OP is selling and buying in. There is not 'one market'….it is segmented.
Prices rose in my local area in Gold Coast. Heaps of sold signs around too. That's just my rough impression. This thread references Westpac's evaluation that Brisbane prices are set to go up 20% in 2021 - 2023. The Property Chat forum is also good for more info. If it really is a "sellers market" it's not good as you will sell at a high price but also have to buy at a high price. I would avoid real estate agents from small companies. Instead pick someone from a well known company who has sold a lot in your area.
Westpac's evaluation that Brisbane prices are set to go up 20% in 2021 - 2023
Lol. Where is the money for the 20% coming from? The banks are broke and their stock prices are hitting red every day. Qld won't open their border, businesses are shutting down, unemployment is high, JK and JS is barely enough to cover the rent, tourism is shot, etc.
There is no more money coming in to the property market.
Yeah that's 10% a year or something like 2.5 - 3.5% extra on top of an assumed "average" growth of 6.5-7.5% in Brisbane. So there is a chance that could happen.
LoL
As a property owner already I would expect you to know the "real" value of your property so I suggest checking on a sight like realestate.com.au to see what similar houses are on the market for and what are recent selling prices.
In other words do a bit of homeworkThanks mate, I am doing a bit of home work and this is part of it.
They just want commission sellers market or not… cold calling you IMO tell me they are not busy enough.
Want to try a savvy approach (only if it's not inconvenient): sell now - prices are strong due to historically low interest rates due to COVID. Rent for 3-5 years to find you ideal suburb, then buy when interest rates rise again and prices fall.
No, prices can't rise strongly forever because interest rates can't fall any lower.
interest rates can't fall any lower.
The cash rate can go to zero or even negative.
The RBA will have no choice to change this in the next few months.
The cash rate can go to zero or even negative.
RBA have said current cash rate is the low.
The RBA will have no choice to change this in the next few months.
Pray tell why this has to happen.
What else would you expect them to say?