Buying property? Then this blog is for you!!

This blog helps the property buying community to more easily share strategies, stories and helpful tips. It is an open blog. Anyone can join, contribute and invite others to join.

If you would like to talk property, please contact us:
Office: 1300 911 576
Martyn Fleming: 0400 000 822
Guy Clarke: 0409 055 128

09 February 2009

It's a Buyer's Market and a Seller's Market... at the same time. What the..?

Everyone's busy proclaiming that we're trading in a "buyer's market".  However, we are seeing signs that we also have a seller's market emerging within the residential property market.  How can that be?

At Morpheus Property, we're analysing property on a daily basis. We have seen the impact of three main stimulii, namely: 1/ lower interest rates, 2/ an increase in the First Home Owner Grant and 3/ reduction in stamp duty.

These changes have had their most profound impact on property purchases under $500,000 (many of our clients are in this price bracket).  Competition is fierce with less time on market and more incidents of multiple offers, gazumping, etc.

Between $500,000-750,000, things start to level out and the buyer's market really kicks in with anything over $750,000 (especially in the plus $1m price bracket, where we're seeing very large price reductions).

If you'd like to get an update on the property market in Queensland, Australia AND learn how to best take advantage of the market conditions, call your buyer's agent today on 1300 727 586.

Yours in property!

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