James Buy Sell Market News with Off Markets every Monday
We ended this week with three buy-sell transactions, exceeding $20 million in total. Notably, two of these were off-market deals, and all three involved multiple agents, with two in Kew and one in Toorak. As we head into the mid-year break, this week stands out as a positive period in both the calendar and financial year.
The market is experiencing consistent growth across all sectors, although not always apparent or uniform. Nevertheless, prices are on the rise.
Overall the market has spoken and it is up but volatile. With a huge difference between the Inner East and the rest of the Top End auction suburbs
Normally we say nothing – privacy – but somebody else splashed it all over the papers. In 2021 we bought for our client. This week sold for a $4m gross profit in 2 years. Same home, same agent. In fact same clients we acted for on another $4m+ profit Toorak home previously. That’s a +20% uplift as the Toorak market dropped 10%.
The Boroondara hotspot has rippled through to Stonnington – and make no mistake this is a market change – this is a Mexican of some note. Sure, we are not out the woods, but bidders are cutting swathes through the forests of negativity to lights on the horizon.
Enter Tuesday’s rate announcement and all of sudden this May market is now the volatile one. May is going to be compelling watching like a Magpies last quarter and will almost certainly set the tone for Winter, Early Spring and pre-Xmas markets in 2023.
The 2023M2 May market has gone from a bit of a yawn to pivotal sentiment in the immediate residential property markets future.
In a buy sell, on the sell, we manage the whole process. Our focus is price, strategy, presentation, agent selection, execution, and extras, all of which are largely ignored in many off-markets, big mistake.
And we live in volatile times!
Bang! That means right now $millions are on the line for buyers and sellers.
It’s game back on!
Volatility doesn’t just happen on the way down – it also happens on the way up!
We now enter the post Easter market – M2 – the May market, the year’s second one.
And we live in volatile times!
Bang! That means right now $millions are on the line for buyers and sellers.
It’s game back on!
Volatility doesn’t just happen on the way down – it also happens on the way up!
Stop Press: Today, April 1st, Jellis Craig, Kay and Burton and Marshall White announced they are merging to form a super company called Green is Good, based on the 1980’s business theory, but updated to reflect agents new world environmental credentials.
Another big week in property for us and if you think the market has not changed since later last year when it was a dog – then that’s fair enough – but we don’t agree.
It has changed dramatically since pre-Xmas on individual homes that are special and in some micro-markets (eg Boroondara).
But as we said – a break from the market this week. Back to absolute beachfront.