REAL ESTATE | Sellers' time to shine in confident market
I can report that in the last week Ray White phones have been ringing, tingling and messaging - a definite flurry of sound and action!
The property market did slow down to a bottleneck before the election, but post-election, feet are down on the gas and changing up the gears.
Preceding 18 May election, people were holding back to find out about negative gearing (offsetting expenditure with investment properties) and SMSF’s (Self Managed Superannuation Funds).
The outcome is good news for Port Douglas’s property market.
With many properties in Port Douglas being bought as investment properties, holiday homes, and first-time buyer properties, confidence in the market is returning.
Adding to this wave of confidence is news that the Australian Prudential Regulation Authority (APRA) has given recommendations to the mortgage lenders to help more people attain finance.
A final version of the recommendations will be released on 18 June with APRA’s recommendation for banks to follow.
As a seller, this could be your time! Peak months for property sales in Port Douglas are July, August and September, so now is the time to give your house a little face-lift help - a little injection of paint to freshen up is like a property botox.
With increased financial approval this could precipitate many buyers looking - so making it a seller’s market.
If you would like a free property valuation complete with my 40-page “Port Douglas Property Finger Tip Guide” or to find out about suitable properties to buy - I’m only an email or phone call away.
Rosie Wang is a sales consultant with Ray White Port Douglas and Mossman.
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