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November 2008
Tuesday, November 04, 2008
The beginning of November sees a lot of "one off" events that seem to be taking people's minds away from the property market. Presidential elections in the USA, volatile currency fluctuations, a sharemarket which is being battered by Wall St events, our own general elections, all seem to distract both buyers and sellers. What we do know is that houses realistically priced and marketed well are still selling.
Kate and I have just returned from two days on the Gold Coast at a conference with other licencees from around Australia and NZ within the Real Estate Results Network. The general theme was that the volume in the market place (actual numbers of homes/apartments/units sold) is down in most areas by approximately 50%.
We have looked at the number of sales in the market which Just Paterson work in (from Khandallah in the northern suburbs through to Seatoun) and in 2007 approximately 3800 actual sales were transacted. Figures for 2008 till the end of September numbered 1655, a drop in volume of approximately 47%.
It has been interesting to note that during this period our own market share has nearly doubled. I believe it shows the strength of our ability, training and above all our experience during more challenging times. Our other real advantage is our access to world class training through our membership of the Real Estate Results Network.
- Ian Paterson
