Spring is certainly upon us, and in just the first two weeks of October we have sold 34 properties. In July our properties were averaging 64 days on the market, in August 66, and in the first two weeks of October, they’ve averaged 34, a huge turnaround. Just this week we’ve had 136 people at our open homes and taken 287 buyers through private inspections – nearly double the number of private inspections we had in the last week of September (148). In Mount Evelyn Liam estimates there’s been a 30% increase in market activity since this time last year, with the same number of properties listed, but nearly 3 times the number of enquiries coming in! He’s seen more confidence especially in the lower end of the market but with confidence also starting to appear with more enquiries for more expensive properties. Jim reflects that the market is at the best it has been over the last 2 years, despite stock still being quite low, with the top end of the market going well, he says there’s no better time to sell.
Greg encourages buyers to get on our new listing email and SMS alert systems, which give buyers a chance to view properties before they are advertised, a system that results in quicker sales and better prices for our vendors. In his opinion our advertising on internet portals such as realestate.com.au is becoming almost secondary to our email and SMS alerts. The meeting is rounded out by Geoff’s take on the current rental market – which he says has improved, benefiting from the renewed confidence in the sales market. The vacancy rate is currently below 1% with properties being let quicker as a result of confidence coming back into the market.