In this week’s two minute property investment news video I talk about how you can get an extra 5% when you sell.
All the television real estate shows swear by property styling and now there is proof it works or at least is worth considering.
According to a new survey by LJ Hooker it could be worth as much as five per cent more and using the current median house price of the combined capital cities of $550,000 that could equate to an extra $27,500 in your pocket.
As well as adding more to the sale price they say it helps achieve a quicker sale. About 88 per cent of the agents surveyed reckon it brings more offers in the door or more bidders on auction day.
In other news as the market heats up we are haring that more deals are being done behind closed doors.
Home buyers are being excluded from a large slice of Melbourne’s property market as a growing number of deals are quietly reached behind closed doors.
Agents report that as many as 20% of sales are done ‘off market’ because of stock shortages in some popular suburbs.
Michael Cooney, a director at Hodges in Melbourne, says that because the market is strong, buyers have become more proactive by asking about upcoming listings particularly in sought-after areas.
And finally renters are having to flirt with agents to get the property they want in Sydney.
According to the Real Estate Institute of NSW, the latest inner Sydney vacancy rate is just 1.8 per cent.
Vacancy rates are tipped to rise over the coming months – in favour of renters – with more investors buying and property developers building, as the result of a construction boom in Sydney.
But with summer approaching so, too, is the peak season for Sydney’s rental market.