CENTURY 21 Port Douglas believes that current conditions in the residential housing market have created an attractive environment for prospective property buyers.
The level of buyer demand that we are seeing in the market at the moment is generally lower than what has been seen in awhile.
With auction clearance rates dipping and a fairly large amount of stock on the market, this is actually quite a practical time for prospective purchasers to be out there looking to buy.
According to Australian Property Monitors recent auction results are showing surprisingly low clearance rates. In Port Douglas of the 9 properties selling at auction there was a 0% clearance rate, and only a 33% clearance rate the week before.
In addition, the recently released annual land valuation notice found that Port Douglas land values noticeably decreased since 2007 in some cases by whopping 30%.
This is the kind of market that gives buyers increased negotiation power and more room to think.
Century 21 Port Douglas would encourage those who are in a position to buy to make considered assessments of the various property and financing options available to them, making the best use of the breathing space that this type of market affords.