Marketnews Archives

Hi Mal and Gina,

That went well!  As you may imagine, we were a little anxious before we arrived.  In the event, the property has exceeded our expectations in every way – there are no downsides.  The scale of the rooms are all significantly larger than expected, and the flow through the property is lovely.  We are fortunate to be the new owners.

We are very happy to write some words for you and we are looking forward to our BBQ together.

Very best wishes
J&H

Yes, we are active right now, and yes, we are buying more homes than we are selling!

Why? The market is why! It’s ripe for trading up, with plenty of stock, often little competition, and you can still sell your smaller home at a solid number. Why?

Because the market is working at the bottom and a bit fluffy further up the food chain.

Today, as we close our second ‘100 Auction Market’ test for the year (2024 M2 May), the Top End market stats below confirm everything we have been saying: it’s a tough market at the top for sellers, but not impossible with the 3Ps—patience, persistence, and price revisions. For buyers, it’s an opportunity, especially if you are trading up.

Factually, if you are trading up, then the current market is the best I have seen since pre-Covid. Price you home correctly as it’s selling and then make your money on good buying. If you are buying or selling, then we can currently show you a range of opportunities as there is plenty of stock (as a general rule, both off-market and on-market).

Since the market turned Cup Day 2021 it has been rare that you had had more volcanoes than ducks ……. But we did today, as ducks were very low at 4 from 29 auctions.

Is it just me, or is it getting colder much quicker? I’m not talking about the market—rather, the water. These days, I find it tougher to hop on my bike at 5:30 AM, hit Elwood’s outdoor gym, and then dive into the water. It’s far easier to say, ‘Hey Rich, forget this, let’s head straight to House of Bread in Martin St, Brighton.’ There, we chat about footy tipping (how hard hey – I’m coming last of 50), life’s challenges, and pretend we’ve exercised over a piccolo and a biscuit.

Is it just me, or is it getting colder much quicker? I’m not talking about the market—rather, the water. These days, I find it tougher to hop on my bike at 5:30 AM, hit Elwood’s outdoor gym, and then dive into the water. It’s far easier to say, ‘Hey Rich, forget this, let’s head straight to House of Bread in Martin St, Brighton.’ There, we chat about footy tipping (how hard hey – I’m coming last of 50), life’s challenges, and pretend we’ve exercised over a piccolo and a biscuit.

“Mal, what’s wrong with me? What’s wrong with my agent?

What’s wrong with my property as a seller?

Why am I always missing out as a buyer?

Buy Sell works. Late last year, our clients approached us, expressing their desire to discontinue a renovation project. Despite their home being halfway demolished since purchase two years prior, we managed to sell it for more than we initially paid, when we bought it for them. Simultaneously, we facilitated the purchase of a move-in ready property with potential for improvement or the option to retain its current state, all while putting money back into their pockets.

At the Top End we continue to feel positive about where the market could be going, after the conclusion of our 3rd and final week of the 100 Auction Test (2024M1 – Opening).

Overall, the market eased upwards during February buts really its line ball – on the edge – results are patchy and volatile, and the market is still punishing mistakes.

The good news is the Bidderman freefall of 2023M4 – Pre Xmas has been arrested.

All the stats and today’s action below, including a last one standing s…fight at Mary Street, Grace Park on Monday, which went past $14m, $16m and $18m on the fly.