This weekend sees the last of Team Fetter/Sciola’s Auctions for 2021, leaving us with two weeks until Christmas to tie up loose ends… sell our remaining stock and continue listing for next year.
The Stonnington market will pause, as usual, from Christmas until Australia Day, aside from a very small number of transactions. February should be very busy.
The hottest market we’ve seen in decades has enticed many sellers to market, albeit with a bit of a lag, hence why we are seeing such strong Auction volume very late in the selling season. This listing momentum should continue well into 2022.
Whether the insatiable demand seen in 2021 can continue to absorb these higher stock levels into 2022 will be a real test.
There are two main factors that may temper demand somewhat. Firstly, the latest interest rate increases, which the banks have pre-emptively imposed on their longer-term fixed loans. And secondly, a more balanced market sentiment and expectations that prices are likely to stabilise in 2022 or maybe even fall slightly in 2023.
The market loves flying in the face of anyone who tries to predict it so how about we all play it by ear?
For now the demand is still there, interest rates are still low, and we are putting together some great sales.
From Friday to Sunday Team Fetter/Sciola made five sales all via private negotiation, three of them off market, for a total of $12.4m.
Now is the perfect window to capitalise on a bit of pre-Christmas urgency and motivation to either buy or sell off market. As agents we have the ability to align buyers and sellers whose preference is to transact now rather than wait for the uncertainty of 2022.
Please let me know if I can help with your upcoming plans.
This is our last New Listings email for the year. We wish you a wonderful break and look forward to seeing you back here in late January.
As always, thanks for reading. If you’d like to see or share an archive of all my previous posts please check out www.davidsciola.com
Feature Image: 11 Kingsway, Armadale