The price you get for your home can be life-changing
WITH CHRIS HENSON FROM ONE AGENCY SURF COAST
SOME people think that regardless of who you list your property with or how the campaign is run, the result will be the same.
Just the other day, the owner of a home I sold in North Torquay told me that selling her house at the price we did changed her family’s life and gave them options moving forward.
A house in their street recently sold for considerably less and it almost made them put on hold their plans to sell.
Your agent needs to add value to your sale, rather than just being seen as a cost when selling.
And in the case of this family, the sale price has made a big difference to their future.
Properties that have been on the market for months are selling
Interestingly, most of the properties that sold in July – by all agencies – had been on the market for a long time.
In fact, more than half of the 38 properties that sold in July had been on the market for over 100 days.
What does this tell us? That there’s been a big shift in sentiment and that buyers are back.
Also, the time it’s taking to sell newly listed homes in Torquay is decreasing, which is a positive sign.
Mortgage repayments consume the smallest proportion of incomes since 1999
It may not seem like it, but according to the Housing Industry Association, housing affordability is the best it’s been in 20 years.
They say with interest rates so low, mortgage repayments consume the smallest proportion of earnings since 1999.
Currently interest rates are sitting more than two per cent lower than they were in 1999.
Across Australia, wages have more than doubled over the past 20 years, while the median house price has more than tripled, but lower interest rates have kept the cost of servicing a loan the same.
For more information on the Surf Coast property market please call me on 0477 774 271 or email [email protected].