Experience is a powerful asset when selling

So, in the interests of adding some reality to the debate, consider these facts:

1. Yes, the median property price in Melbourne fell during 2018. However, whether the figures you’ve read mentioned a fall of 5% or 7% or some other number, that’s a minor correction when you consider that prices grew by over 40% during the previous five-year period.
2. There are big differences between different areas in Melbourne. For example, the largest drop occurred in the inner-eastern suburbs, whilst the changes in our area were much less.
3. There are also big differences between price ranges. The top end of the market saw the biggest drops, whilst lower priced homes still increased in price. No, we didn’t see any mention of that in the media, either!
4. Don’t forget that any changes in median market values are almost irrelevant if you are buying and selling at the same time. As the old saying goes, “what you gain on the roundabouts you lose on the swings”. Indeed, if you are upgrading, any fall in median prices means you are actually better off, as the price gap between your current home and your next home also falls.

The most important factor to keep in mind if you are going to be selling in 2019 is that the biggest advantage you can give yourself is to make sure you choose an agent with experience of a wide range of market conditions. The fact is that if you choose an agent who has only been in real estate for four or five years, for example, they have probably never dealt with a market where prices have declined at all.

By choosing an agent who has experience in all kinds of market conditions, from market booms to credit squeezes, they will be far better placed to advise you based on real first-hand knowledge, not theories. So, if you need any advice or guidance on any real estate questions, our team are back on deck and ready to assist. Feel free to give us a call.