Spring is normally the “selling season” and with the immense strength we have witnessed in the property market over the last eighteen months, one would think that this will be a mega Spring. However things are a little different this year.
With Covid restrictions and a large number of ‘out of area’ buyers locked down, many sellers are choosing to wait until lockdown is over. Anticipating even stronger prices when more buyers are once again active. This dynamic has seen the number of properties hitting the market reduce significantly. People that absolutely have to sell are bringing their properties onto the market and are actually still getting fantastic results. This is due largely to the large number of Hunter based buyers.
The reason why strong results are still being obtained is because the buyers are being starved of available properties. There is very little coming onto market with Rural or Residential properties. It’s like seagulls fighting over hot chips at the beach. Very frustrating for the buyers in the market.
Once lockdowns lift (hopefully in October), you will find large numbers of properties hit the market. It will be very interesting to see what the market does then.
So, the silly selling season of Spring is more like the calm before the storm in 2021. Good luck out there and remember we are here to help.
We’re Bailey. We’re here to get you there.