Wealth
Why it’s so critical to choose the right real estate agent
By James Ball.
COTALITY’S recent report showed June saw the biggest monthly fall in national housing values since 2022.
Values fell 0.4 per cent, with Sydney and Melbourne leading the way.
Growth in Brisbane, Perth and Adelaide slowed.
Many economists are expecting housing conditions to remain soft in the months ahead due to interest rates and tax policy changes, among other factors.
Sydney and Melbourne values fell 1.2 per cent and 1 per cent respectively.
The once ‘booming’ Brisbane and Perth prices rose, but at a much slower pace. Adelaide was flat.
Cotality’s research director Tim Lawless confirmed what we suspected: that a lot of buyers “are reluctant to buy into a marketplace when they are fearful that prices might be going backwards”.
That’s why Brisbane’s auction clearance rates are down, as are open-home attendance rates, resulting in properties remaining on the market longer.
At the time of writing, Brisbane’s auction clearance rate – the percentage of auctions ending with a successful bid – was 43 per cent one week, up from 23.5 per cent for the previous week, but still 20 per cent less than last year, which was 63 per cent.
The number of properties listed for sale was up 25 per cent. However, this was not because more people were selling but because properties were taking longer to sell.
It is always critical to investigate a real estate agent’s employment background before making a final selection decision. This will reveal experience and expertise.
It is also critical to select agents who have achieved success in sellers’ and buyers’ markets, especially considering the market we are now experiencing.
Contact me for a confidential, no-obligation meeting or chat if you are looking to sell.
WORDS: James Ball, HME Property Group. Call 0422 618 556 or email james@hme.group
