2016: Melbourne House Price Growth To Ease.

2016 will remain a buyers market, I expect buyers will once again outnumber sellers. This is a common seasonal characteristic of the early autumn market, just as there tends to be a glut of sellers in the late spring market. 
Price growth has slowed toward the back end of 2015 in the face of tougher lending practices with low interest rates tipped to remain unchanged for most of next year.

'Melbourne’s three-and-a-half year growth cycle for house prices is clearly easing.'

Competition for family-sized houses is expected to remain hot, especially in school zones, while demand for apartment falls due to an oversupply.

Vendors will not see a repeat of reserves being over exceeded like in 2015, rather a more realistic approach when it comes to market value. 

Chief executive Enzo Raimondo of the REIV said while price growth would slow next year, Melbourne’s growing population and low interest rates would mean continued buyer demand.

Melbourne’s auction market has finished the year in good shape, but the city’s three-and-a-half year growth cycle for house prices is easing.

Considering buying your first home or investment in 2016? For a consultation free meeting on getting into the property market contact us on 1300 00 WISE.

Selling Methods Used In Melbourne Real Estate Market.

There are a number of methods real estate agents use to sell property. Below are the most common used in Melbourne that our Buyers Agents specialize in. 

Auctions:

For an auction to be successful you need to have a property which is going to attract more than one buyer or that is unique in some manner such as exceptional views or superior location.   There is no point auctioning an average home in an average street.  

For your information agents like to use auctions for the following reasons:-
 - increases their efficiency, time and number of sales
 - creates a higher profile for their agency
 - provides a structured plan and time frame to work to
 - creates more contacts, referrals, clients and business
 - their name and brand received  premium exposure at the vendors expense
 - unconditional exchange on auction day increases results and increases their income.

Something else to consider about auctions is that if the property doesn’t sell at auction it can be labelled a failure and people won’t want to buy it.  After all who wants to buy a property that no-one else wants.

Private Treaty:

This is where a property is put on the market at a nominated price.  With the right marketing your property will attract the maximum buyer interest and achieve the highest possible result.

Expressions of Interest:

This is where a specific asking price is not indicated for a property and expressions of interest are sought from interested parties. Buyers are urged by the selling agent to submit their best possible price, together with any conditions. Buyers are also required to sign a contract and to submit the offer with the nominated deposit. After the close of tenders, the best offer can be selected by the vendor/s.

Buying your first home or investment can be a difficult process that many find over whelming, hiring a buyers agent can increase your chances of owning property portfolio that will help you achieve your financial goals sooner. For a consultation free meeting on getting into the property market contactus via email or call us on 1300 00 WISE.