Based on Reported Auction Results*

Auction Success Rate Declines Into Year’s End

Property sales success in 2023 has tapered off as we have reached year end. Contending with geopolitical issues, the regular interest rate moves and general cost of living increase have also taken their toll, all cooling the ardour of property buyers. The changing landscape courtesy of these factors presents challenges for buyers who face an altered reality of how much they have to spend and what it might buy them. Adjusting to a new regime is not easy and a slowing market is not surprising. It might even be said the market has handled the year quite well. 

2024 is another year and with an expectation that interest rate increases may be at an end for now, home buyers could feel reinvigorated when they resume their property search. Homes on their own block of land will continue to lead the market sector-wise. It continues to be the most sought after property type for buyers. Renowden Buyers Advocates found demand for its services more in this area, than any other in 2023.

We wish all our clients a very Merry Christmas and invite you to click, view and enjoy the marvelous
Fireworks Display: Como Park, South Yarra   8 mins … sound up 🙂
Sunday Night 17th December sponsored by the City Of Stonnington.      

Best wishes and see you in the new year,

Bruce

Contact us if we can help you with your property needs:

For assistance:
Auction Bidding And Sale Negotiation – Pay Only One Low Fixed Fee For This Service – $995: up to two properties
Property Search
Vendor Advocacy (for property sellers) 

Bruce Renowden
0412 100 501
“Showed How Experience Provided Us With An Immediate Advantage”

To View Our TouTube Channel: https://www.youtube.com/channel/UCOq7OeGN5hqBXM6QbGgfRSw