Our clients that have come to the market in recent weeks have achieved great results because of the basics of supply and demand.
In regards to supply, the number of properties ‘for sale’ has reduced significantly. Thus, there are less properties for buyers to choose from - this leans towards our sellers obtaining an advantage in achieving better results. So the buyers active in the current market are fighting over fewer houses, which is great news for every property owner currently selling.
The other fundamental is that of demand, and in the case of real estate, buyers are the demand. We have seen a strong demand of buyers active in the market looking to buy property. When we look at our auctions in recent weeks, we have seen the average number of bidders per auction increase to levels that were achieved well before the current environment. So what are the factors contributing to buyer confidence?