Low Stock on the Market: What It Means for Buyers and Sellers

We’re all familiar with the adage “money can’t buy style”, and more than likely you’ve seen the evidence at any televised red carpet shindig. Well, it’s just as true for renovations as it is for fashion. There are times when a incredibly expensive renovation can look disastrous, and a cheaper renovation can look fantastic.

With the prices in the residential market calming down in the major capitals and most regional areas how do you sell in an easing market? How do you still get top dollar? Or do you sit and wait?

Getting finance approvals has become more of a challenge and banks are now scrutinising people’s spending patterns etc with a fine tooth comb.  Make sure your pre-approvals are in place before making any offers as the time taken to get approvals have blown out considerably compared to last year.

Nationwide measures of housing prices are little changed over the past six months. Conditions in the Sydney and Melbourne housing markets have eased, with prices declining in both markets. Housing credit growth has declined, with investor demand having slowed noticeably.