The combination of years of strong capital growth and the negativity and uncertainty about the world economic turmoil have finally put our property market in a slump.
Property markets are generally driven by the country’s economic fundamentals and market sentiment. Australia’s fundamentals are strong, which means for the long term, property should remain strong but in the short term, market performance will be largely influenced by market sentiment.
For many home ownership is a dream. Admittedly, there are far worse goals to have, but this is not something you should rush into.
The most important thing to consider is affordability, now and into the future. You do not want to move into the home only to find yourselves under financial pressure as time goes by. You do not want to be a slave to your home.
If you are like most sellers, the thought of selling your property can be daunting.
When it comes to getting the highest price for your property, these are the two things that, more than any others, will optimise your chances of success.
But before we get into those areas, do you mind if I ask you a personal question?
There’s a myth among many home sellers that going to auction is the best way to guarantee the highest price for your property. But is this true?
If you’re thinking about selling your property at auction, first spend a few minutes thinking like a buyer.