Recent Home Living Property Culture
Recent Home Living Property Culture
Property

SPRING HAS SPRUNG

01-Sep-2016
Written by Matthew & Samantha Bourn

Property Photography by Des Harris



With winter behind us and summer looming, traditionally the spring season is the time to make the property move. We’re sure, just like us, you have been huddled under a blanket in front of the fire watching your favourite team or movie on the big screen!



Whilst enjoying the winter season, work hasn’t stopped at McConnell Bourn and we’ve continued to deliver outstanding results for our clients. However, the one question that remains on everybody’s lips is - ‘how is the market travelling?’



In the past, the response has been great - plenty of listings and plenty of sales. However, the first half of 2016 has actually been one of the tightest held markets that we have seen since the
mid-1990’s.



After seeing the fruition of the 2015 property market, most expected 2016 to continue similar momentum. However, the first 6 months saw a drop of 26% in stock. Whilst this has been fantastic for property sellers, on the flip side, buyers have been increasingly frustrated with the low volume of properties available and the competitiveness amongst buyers. As such, buyers are finding it harder and harder to secure a home.



So why? We could say the Federal Election, the rumoured slowdown of foreign investment, the early arrival of the Easter Bunny, and the uncertainty of interest rates were all contributing factors. However, it’s no surprise that the market couldn’t be sustained and was due for a cyclical slowdown.



Having now turned the corner and on the home straight towards Christmas we are finding many of our clients are making the decision to sell. As a result, we can expect to see a more balanced spring market.

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