Keep in Touch – Welcome to 2019
I believe that this year will be even better than last year.
Probably the most common question I have been asked in my time in real estate is, “So, how’s the market going Mark?”
To put it simply, it’s either going up or down, it’s never doing nothing. It is always there, it never takes annual leave, a break at Christmas or a sickie, it fronts up every day whether it is 42 degrees in January or cold and wet in the middle of the year. It can be ignored but it will never go away and when you need it, it is there.
Everyday someone is buying or selling property and I love a changing market, no matter how it’s changing !
Last year I spoke with many clients, wrote articles and did interviews about where the market is heading.
Which state, which area, what type of property and other factors all influence the answer to that question, but one certainty is that it is heading somewhere, up or down. During 2018 I continued to say how the real estate market in general will follow the trends of the stock market, just with not so severe peaks and troughs. In South Australia we seem to follow the trends of Melbourne and Sydney markets but again, without the highs and lows of their fluctuations, but the trend is similar, we follow in their market shadow.
So it was no surprise just now to see Core Logic’s National Media Release of the Home Value Index for January 2019 report show the annual rise and fall of values across the country. Sydney and Melbourne had the greatest falls. Adelaide had a very minor increase. Nothing stayed the same!
Ok, so we know what has happened, but what will happen next? As mentioned above, South Australian prices went up last year, but the rise came early in the year. We were climbing while the Eastern states commenced their downturn. The back half of the year prices on the eastern seaboard continued to fall and we started to follow. The years early gain slightly outweighed the back-end downturn resulting in the years minimal nett rise in values. The peak however was last year! So to know where we are heading, in the short term all we need to do is look at what has happened across the border and take a slightly subtle version of it. To know more about the long term, look at what is going to happen over in the eastern states, and apply the same theory here.
I have a very interesting short article from a very good Sydney based agent which contains some tips to sell in 2019.
For a copy of it, or a copy of the Home Value Index Report, just ask, we will provide you with them.
So this is why I love a changing market. As property owners, it gives us an opportunity to know what’s coming. With that knowledge we can make decisions that are best for us all.
We should never have to look back and say, “If only I knew”. Changing markets create opportunity. So in 2019, with knowledge of the market, what opportunities will come your way? Most people who will transact in real estate this year, don’t yet know they will be doing so. Be ready just in case opportunity and circumstances come your way.
A while back I heard this statement about our industry and it’s so true. “Not many agents credit the market for their success in a booming market when sales are quite easy, instead they credit themselves for being a good agent. However, when the market starts to decline and sales become tough, the same agents seem to blame the market rather than confess to being a poor agent. A very good agent creates success for their clients first and subsequently themselves in any market.”
A statistic bought out a few years back following the GST and the subsequent decline in the property market was that almost a quarter (25%) of real estate agents and offices in Australia shut their doors, stating the downturn as the reason for closure, they were at the mercy of market forces. Proudly we expanded and look to do so again this year.
We are about to commence a recruitment drive, commencing with sales careers, if you’d like to know more go to our website.
Bring on 2019 and the wonderful opportunities it presents – we do hope to help you with yours.