We saw a decent number of new listings launch last week but talk to any active buyer and they’ll tell you that choice is still very limited, particularly for anything better than decent.
And time is running out to secure a property in 2022.
Cup Weekend is four weeks away, so there won’t be many new auction campaigns commencing this week either, with vendors either squeezing in for Super Saturday on October 22nd, or holding out for November 5th.
This means that unless your next home is already listed and online, there is a closing window of opportunity of just six weeks for that illusive reasonably priced, box-ticking property to hit the market before Christmas.
December 10th will be the last proper auction weekend of 2022, so from mid-November the new listings pipeline will be shut off until the end of January 2023, aside from a few off markets and passed in properties for private sale.
Time waits for no one. Patience is a virtue.
Neither of these clichés are helpful if you’re a motivated buyer. The ‘wait and see’ approach rarely helps people get on with their property plans.
If every takes a ‘wait and see’ approach listings will grind to a halt.
Stonnington is an established market. Period homes are finite and tightly held. For them to change hands you need a willing buyer and seller.
It takes two to tango.
Fortunately, we have continued to see strong results and stiff competition in recent months for sought after properties, which is giving potential vendors the confidence to ignore the negative news and press on with their plans.
And those vendors are being rewarded with premium prices in this low-stock environment.
We just need more owners to take the plunge to give some of these buyers a fighting chance of finding a new home.
David Sciola 