Wednesday, February 13, 2013

It’s started...100 buyer groups!


It's started...100 buyer groups (around 200+ people) through one open inspection! In fact, we found a bug in our new VirtualAgent selling system when we hit 50 buyer registrations at one open inspection, an issue that we had not been aware of prior to last weekend! It's fixed now, but what a terrific problem to encounter.

I suspect some of the best buying is behind us… YES, WE’VE FOUND THE BOTTOM. However, don’t expect an instant return to the boom days. The wildcard in all of this remains the unemployment rate. One thing is clear, you had better get on with buying if you don't want to entirely miss the boat.

WHY? With interest rates at all time lows (4.99% fixed for 2 years), plus the excitement people are feeling of finally ridding ourselves of this Federal Government in September, combined with house prices that are well off their peak, it points to the fact we have entered a new property cycle.

EXCEPTIONS? Sure, there will always be exceptions. A classic example is the Fleurieu where it has been really quiet both in sales and rentals. What an opportunity if you are bold enough and are a long term investor. Markets always change, the Fleurieu will change, nothing surer than that. Top end has remained strong, but little wonder as Adelaide's top end prices remain a joke compared to all other mainland states - they are so cheap.

After a shocker 2012, with sales volumes down dramatically from their peak and soft prices, sales have stepped up. The lead indicator of a change in the market is attendances at open inspections, and numbers have leaped ahead of the norms of last year. Conversion of attendance at inspections to actual sales, as reported last week, has seen the return of sales prior to public release and multiple buyers vying for the same property.

CONCLUSION? Buy before the election. There will be so much optimism released given a change of Government. Prices are as cheap as we have seen in years. Competition between financiers has this week seen interest rates as low as we have seen ever. Supply is as tight as we have seen. Time is running out to optimise your property upgrade, and to buy at these prices.

Just do it - start buying. Investors give us your property to look after and we will manage it for you. Simple and easy to understand.

Toop's Tip: be the most informed, and the first to hear about properties hitting the market. Go to register.toop.com.au and tick the box for your "Weekly Market Update" and receive exclusive invitations to view new listings (suited to your criteria) before public release.

Let’s get the party started...time to be bold.

Regards,
Anthony Toop


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