Spring. It hurts.

Buyers are hurting.
Agents are hurting.
Sellers are…

Spring was

Wonderful gardens.
Cheery people.
Home after great home coming up for sale.

Spring is

Wonderful gardens.
Desperate buyers.
Agents with bare boards.
Sellers in hiding.
Nudge, nudge, wink, wink say no more aside, wherever you look there’s a whole lot of nothing going on.

Pity the agencies

Forthcoming listings and EOIs at the top are hen’s teeth.
Agencies need turnover. If vendors don’t turn, there’s no return to be had (sorry).
This vote of pity for agents is out of character for us (and most buyers and sellers).
Normal transmission will return shortly.

Choose your issue

Homes still hanging hanging hanging around after eons of no sale.
Price? That’s an issue.
Agent? Often. Especially including a certain Pinocchio still standing between good homes and new owners. For details, check the Toorak grapevine or wait for Consumer Affairs Victoria.

Another hurdle?

Sitting there at $5-7m with buyers looking for 2-year vendor terms to make sales happen when APRA is looking at banks and interest rates are … interest rates.
We haven’t seen that since the 80s.

It’s AAA and a sensible price?

Gone in a blink.

The Peninsula Flips

Last year: Buyers in queues and sales at millions above sense.
This year: “We have homes but no buyers.”
Land tax biting?
Belt buckles tightening?
Anyway, do we really need a weekender?

Patience patience patience pays

Albany Road.
The ask is too too too much.
On the market for six years.
$19.5m. New neighbours from the north.

Where did everybody go?

Investors fleeing Albert Park.
Extraordinary number of rentals appearing under shadows of monster land tax, uncertain tenancy laws and cost of money.
Uncertainty is where opportunity lives.

Sweet spot

Post COVID there’s next to no-one ready for the years-long renovation treadmill.
It’s all done or brand new?
Buyers are waiting for you.
Competition will be hot.

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