11/06/2020
Five fundamental reasons why the homeowners should be considering selling NOW if you have the plan to put your homes on the market in next 6 to 12 months:
1. The continued resilience of the real estate market was very strong prior to entering into the lockdown. And we have seen a strong demands activity which is reflecting on price at a continuing level in post lockdown.
2. Our clients that have come to market in recent weeks have achieved largely great results because of the basics of supply and demand. The number of properties “for sale” has reduced significantly. With fewer properties for buyers to choose from, it leans towards the sellers obtaining an advantage in achieving better results.
3. Interest rates are at record lows-27% lower than 12 months ago. And the general consensus among economists is that they will remain at these low levels for the foreseeable future.
4. Buyers are confident at the moment. First, With interest rates at all-time lows at below 2.7%. Secondly, banks being supportive of purchasers, we are seeing many buyers wanting to take advantage of these factors.
5. Uncertain market conditions over the next 6 to 12 months. Many economists are saying that property prices may decline over the next year or so for a number of reasons:
• Wage subsidy support finishes
• Mortgage deferment support ends
• Significant rise in unemployment
• The number of properties for sale will increase and fewer buyers looking to purchase property six months later.
In summary, less supply and strong demand create favourable selling conditions at the moment. The current conditions created fundamental environment favourite to sellers that we as agents enable to create as much competition for your home as possible and deliver a premium result for you.
Feel free to contact us on 022 071 3058 for a no-obligation discreet chat.