Has the market hit a speed bump?

This week my words of wisdom are to ‘be careful’ because there is a lot going on out there right now in real estate land.

It is exciting to see investors back in the market. It’s great to see auction clearance rates at continuing record levels and our team is achieving great results across the high end apartment mark.

The momentum is definitely there and if you needed any further confirmation you can tell the Sydney market is strong when the newspapers start headlining talk about a crisis in housing affordability!

But after weeks of going gangbusters we are now starting to see a little bit of pull-back. Nothing dramatic but certainly there is not quite the same level of interest out there as we were seeing even a couple of weeks ago. I think we have hit a little speed bump.

I think some buyers are a little spooked by property hype. Add to that a percentage of buyers who have determined it will require too much effort to meet a pre-Christmas deadline so have decided to wait until the new year. That means there are less active buyers out there right now.

The market is without doubt still strong but a speed bump does slow things down a little and it is another timely reminder for sellers to remain realistic and to consider sensible offers.