Real Estate

Sells for $300,000 over reserve shock

ANYONE who thinks the market is being negatively affected by Covid, should think again.

Here at Day & Hodgson, we just sold a property at auction for $300,000 over the reserve and it was completely unrenovated.
In fact, the property wasn’t even liveable. We also received an offer on an apartment after less than one week on the market.
This is an indication of the kind of results that can be achieved, and in shorter than usual time frames, when stock levels remain low, but demand is extremely high.
Houses are still at the top of buyers’ lists, and often without parking, which doesn’t seem to be a deal-breaker these days.
Most listings are being snapped up quickly, with buyers worried about potentially missing out if they wait until the property they’re interested in goes to auction. This is something that hasn’t really changed in the last 12 months and continues to be a motivating factor for many purchasers who make an offer prior to auction.
There’s still no clear path ahead for the Sydney property market, and this year has certainly proved that nothing is certain, but with the Spring selling season continuing to escalate and recent results demonstrating a willingness to spend, the rest of 2020 may continue to move towards an improved market.
Don’t forget, you can always chat to us about what’s happening in the local area and we can give you the best advice, whether buying, selling or looking for someone to manage your investment property. Our team is on hand to help, and we’ll do our best to achieve the best possible outcome.