The time is right for astute buyers
THE festive season is a prime window of opportunity for property buyers to negotiate harder and save thousands, according to Certified Practicing Real Estate Agents chairman Geoff Baldwin.
He said buyers should seize the opportunities available.
“Historically, our real estate markets slow down from early November through mid to late January with the result that keen sellers become considerably more negotiable to the benefit of those few savvy buyers who are active during this period,” he said.
“We also see listing stock increase due to buyer inactivity, creating a wider choice of properties for those buyers who remain in the market.”
Mr Baldwin said buyers could also take advantage of keen sellers who drop their prices for a quicker sale.
“While sellers who are not under pressure for a result will wait out this short-term slowdown, it is not unusual to see others who are keen for a result to drop their price expectations at this time of year,” he said.
“Sellers who are upgrading understand that they may accept less on their current property but they will also benefit when negoti- ating their next home.”
Investors should not feel left out either, according to Mr Baldwin.
“Experienced investors know that the Christmas/New Year period is a great time to buy and, hence, we are currently seeing a significant increase in activity from our established investor base,” he said.
“Each year, around the third week in January, we see buyers reenter the market in force and it is predicted that this coming January will be no exception, so those who are keen to take advantage of the lull should be taking action now,” he added.