People wanting to buy on the Peninsula ask, “We are ready to buy, but should we go ahead, considering what’s happening in the world, current interest rate levels, and everything else going on?”
If you find the right property, the answer is YES! You should definitely consider it.
Why? Unlike the last few years, stock-level numbers (listings and off-markets) are way up. It’s become a buyers’ market on the Peninsula! Demand is weaker, but Vendors have been caught in the interest rate and taxation trap and are willing sellers. With another Land Tax Invoice coming on January 1, some vendors no longer want to own property on the Peninsula.
But this creates a wonderful opportunity for new buyers on the Peninsula. As of 20 November, 253 houses were listed in the Blairgowrie, Rye, and Sorrento areas alone, plus a substantial number of off-market properties for sale. To put this in perspective, there were less than 60 during COVID-19 (the last time we will mention that word).
To buy in such a market and to maximise your purchase $$$$, It’s essential to be prepared by doing thorough research and due diligence. In this market, having cash on hand or secured funding (in writing) considerably strengthens any offer you make, as it can be presented as an unconditional offer. Vendors don’t want any strings attached!
Whilst there are good stock levels, you must make sound emotional and investment decisions and aim to secure an A-grade property that will be a family asset for many years.
That’s where we come in. We are local, know the market, and list agents well. Talk to us, and we will guide you through buying a great Peninsula property.
Contact Geoff Briscoe, Peninsula Property Advocates mobile at +6141974035 or email geoff@peninsulapropertyadvocates.com.au to buy on the Peninsula.
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