Lo­cal market snap­shot

Monthly Chronicle - - Real Estate - Chris Hop­kins Raine & Horne Hornsby

Sales

“What’s the market do­ing?” I wish I had a dol­lar for ev­ery time I have been asked that ques­tion over the years. And it doesn’t mat­ter if we’re in a boom or a down­turn, my an­swer is al­ways the same: “The market is mov­ing”. It’s ei­ther mov­ing up or it’s mov­ing down. Even when prices are not mov­ing, the market is mov­ing. Prop­er­ties are sold, new peo­ple move in. Houses are knocked down and units or town­houses are built in their place, then more peo­ple move in.

The Hornsby and Ku-ring-gai ar­eas are right in the thick of it. There’s plenty of real es­tate chang­ing hands and plenty of de­vel­op­ment. This cre­ates a sense of un­cer­tainty for many prop­erty own­ers.

Lots of peo­ple ask my ad­vice about whether they should sell or wait. We all wish we had a crys­tal ball. In most cir­cum­stances it re­ally doesn’t mat­ter what the ex­perts are say­ing about prices go­ing down. When you think about it, if you’re sell­ing and buy­ing at the same time, it re­ally is ir­rel­e­vant. You might get less on your sale, but you’ll pay less when you buy. This can work in your favour if you are trad­ing up! If you’re sell­ing at the mo­ment, be aware that buy­ers are out there, but many are be­ing cau­tious par­tic­u­larly in light of the new cri­te­ria that len­ders are us­ing when ap­prov­ing fi­nance.

Rentals

We’ve all no­ticed the new unit blocks go­ing up across Hornsby and Ku-ring-gai. This has had a big im­pact on the num­ber of avail­able ren­tal prop­er­ties. Many of these units have been pur­chased “off-the-plan” by in­vestors - and now the rush is on to find ten­ants for them. This is a great op­por­tu­nity if you’re a prospec­tive ten­ant as there are lots to choose from.

This is an ex­cit­ing time in the real es­tate cy­cle. De­spite some ex­perts pre­dict­ing a longterm down­turn, the in­crease in pop­u­la­tion is still driv­ing strong de­mand in our area in both sales and rentals. So, what’s the market do­ing? It’s def­i­nitely mov­ing.

Chris Hop­kins is Prin­ci­pal and Li­censee at Raine & Horne Hornsby. He has over 20 years’ ex­pe­ri­ence in sales, sales man­age­ment, and sales train­ing to ma­jor fran­chise net­works. He now runs a dy­namic team serv­ing the lo­cal com­mu­nity. Formed in 1883, Raine & Horne is one of the old­est pri­vately owned com­pa­nies in the South­ern Hemi­sphere and is cur­rently in its fourth gen­er­a­tion of fam­ily own­er­ship. Chris and Susie Hop­kins have owned the Hornsby fran­chise since 2016.

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