The top end is (surprise!) not like the other end. Or like the middle.
Homes are bought and sold more out of want than need. Every home a Market of One – trends seen further down don’t count for much here.
(If you have six bedrooms and more bathrooms than can be cleaned in a day – even if that’s not by you – you are not exactly stuck for a roof over your head.)
But there are moods…
But there are still occasional mood swings. For a significant number, the current joys in Canberra are more than a spectator sport. Who is running the place after the election may affect their fortunes and while that is undecided, why add another layer of uncertainty by launching into an uncertain housing market?
Which all adds to the reasons why there’s not a lot happening at the top end – and then include the traditional cold spots of June and July.
And hangover stock that just keeps hanging on (some since last year).
Lemons? Overpriced? Both?
Then ask yourself…
Why are half of the homes for sale in Toorak still on offer when they have been on offer for most of this year?
Could it be that to look like a real agent, it has to look like you really have something to sell?
Even the proudest ships can come to grief. Some recent form sheets we have prepared for trophy homes have revealed rates unpaid for years. Precarious vendors are not in great bargaining positions. Hanging on by their fingernails?
There’s still a little happening under the radar. Not advertised. Quiet words.
And the Indolence Award goes to…
Property is passed in to highest bidder.
Agent fails to follow through.
Vendor is out ~$20,000 + time + anxiety. For what?
Bayside: Spring predictions next week
See you then.
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