What will the New Year bring to real estate in Melbourne in 2016

I often am asked at the end of the year what do you see happening in the following year?

I have always followed a basic rule of thumb which for most years has always proven to be pretty accurate.

Whatever occurs in December is generally an indication of how the New Year will pan out.

So with that in mind here is what happened in my neck of the woods Surrey Hills, Victoria in December 2015.

We are only a relatively young agency by that I mean I have been operating for less than 2 years. I preface this because December for me a young office with Harcourts Real Estate was intensely busy right up until Christmas Eve and has followed through to the New Year.

In wasn't just enquiry we made sales from properties that had stalled due to the high volume of stock, we had listings come in for the New Year which is a little unusual even when I was working with a larger agency and appraisals in both sales and rentals were the best I have seen for a while.

So my New Year prediction for real estate is that I forsee a busy year ahead.

I predict that listings may start to increase as Owners try and jump in before a predicted drop in prices possibly due to possible interest rate rises or a slow down caused by a lack in confidence in the market due to economic pressures, job losses etc.

This will in turn may keep the volatile pricing that has affected our market for such a long while more even which will keep the sales steady and most people satisfied with the result they achieved.

Like any market supply and demand are the keys to achieving a better result and therefore the best time to list will be when no-one else is. This is generally the early part of the year, the cold winter  months of June July & August and late in the year over the New Year break.

Remember buyers don't retreat from the market only listings so taking advantage of these crucial times will bring great rewards.

Auction clearance rates so long as the market is not over supplied should stay at current rates and private sales times might drift out if overpriced.

Well there it is my 2016 predictions whatever happens one thing is for sure the market is the market and it will always continue to move on sometimes a bit slower and other times like a freight train out of control.

Have a great year everybody and for any real estate advice please don't hesitate to contact me at work on 03 8824 8888, mobile 0425 756 789 or email [email protected]