Welcome to this year and a bedlam of “I’ll tell you what’s coming…” from those property gurus with 20% holes in their feet right where they shot themselves last year.
What’s hot at the top?
You’re on a beach on either side of the Peninsula and in need of $20m+?
You’ll be killed in the rush.
Other than a few lemons and the dangerously over-priced, there’s nothing to be seen on the shelves.
Peninsula acreage? Catching up.
$10m still talks, but not for long. The rush is on.
Got a friend on that cliff?
That Portsea cliff. Homes there are being shuffled between friends. All v. quiet.
No agent in sight; and that is increasingly looking like the new normal.
Here today, gone tomorrow.
24 hours from go to sale. It’s been happening. So have multi-million price hikes in as little as a month.
Meanwhile, back on Planet E…
At the very top end there’s choice choice choice.
Further down the ladder, it’s frenzy.
Buyers appearing out of nowhere. Agent amazement:
“I sold it to Buyer A. Before the ink was dry, Buyer B walked in and made an offer nobody could refuse.”
$8-10m vendors who won’t vend and can’t be blamed.
With interest rates barely breathing and buyers with the urgents of fast food addicts, there’s real fear:
“If I sell, I could be left with nowhere to buy.”
Silence shouts largest.
A whisper here, a phone call there.
No fuss, no frenzy.
All you need is to know the whisperers and the phone numbers.
Truffles live there.
There are agents who think newspaper ads can still work.
Others thrive by working like it’s 2021.
Guess who is surviving COVID.
It’s all finished, all done, sells
“I want to move in tomorrow and I don’t want to have to change a thing.”
… has been the recipe for a lot of sales.
$22m. Domain Road. Rumour.
Agents love a rumour. They’re so much nicer than telling porkies.
The year ahead?
Chaos. Or not.
There are some on the stock market who are already recommending property and a certain billionaire who suggests: “When interest rates are low, watch property grow.”