“I think people’s attitude is that suburbs extend almost all the way down to Portsea,” Docking said. Unfortunately for those looking to enter the market, many buyers are seemingly chasing the same vision.
this time we’re expecting that winter will be almost an extended spring, with continued higher volumes,” Docking said. However, Docking believes the inner city and apartment markets will take a little longer to liven, with a slower recovery rate predicted for this area.
It’s this consumer competition that is creating price growth across the state – and buyers will have to work smarter, On the lookout for property not harder, to secure a property. For those looking to make the big step, Docking’s advice is to keep an eye out “It’s almost been a vicious circle that for properties that have been passed makes people want to transact,” on at auction, as there can be an Docking said. opportunity to negotiate for a better Casting an eye to the future outcome. As Victorians emerged from a “The only thing that would be tumultuous winter in 2020, there’s detrimental to the market is if vendors certainly been an element of FOMO get a bit greedy and think that this (fear of missing out) – with buyers growth is going to continue,” he says flocking to join the market rush. of potential negative effects. And in the months ahead, Docking First home buyers looking to break believes the market will remain into the market under new incentives healthy. Notably, July is traditionally a will also have to work a little smarter, time for vendors to begin preparing as most suburbs have a median house their properties for a spring sales price well over where grant schemes campaign, but this year could see finish. them pulling the trigger on selling “In the main suburbs they’re really not earlier. beneficial at all” Docking says, adding “Generally, winter is when you start to that they’re definitely a bonus if buyers see volumes of sales slowdown, but can use them.”
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