WINTER 2022 NEWS FROM ROBERT SEIB

WINTER 2022 NEWS FROM ROBERT SEIB

With a new government in charge of the country, we will all be watching with baited breath on how they govern our beautiful country after experiencing three years of fire, flood and covid!  It’s always a bit of a mixed feeling when change happens and with the way our world is looking we need strong leadership and decisions.

One main issue for me is the housing market.   If you are one of the people who purchased a home over the last six months, this is probably going to be on the top of your list and also a tough time ahead with interest rates rising.  Even if you bought up to a few years ago it is still going to be an issue of concern. 

Myself and Paramount’s sales agent, Manuel Trujillo, have been through decades of ups and downs with the real estate market.  We have said this many times to many people that we have seen it all in real estate! We know how it can work for sellers and buyers in every market.  Not many agents have the experience in times like this but I would say one thing and that is you never need to panic, there is always a solution with help at hand.

Economists are saying the property market will continue to soften despite new policies from the Labor government to help first home buyers, single parents and low-income earners.  There are conflicting responses to the Labor policies and we are yet to see if any of it will be a negative or positive impact on housing.

From my perspective in the Sydney market, there is still a lack of properties being auctioned or for sale compared to the number of buyers still looking. Sellers are still looking for maximum prices while buyers are now holding back on that bit extra as their budget and finances will only allow so much when those interest rates rise again along with the cost of living.  In regards to the latest properties we have sold, there were buyers still keen to compete for ownership. 

I personally went through the recession back in the early 1990’s as Managing Director of Paramount and we had to take a different approach to selling and leasing then.  We may not quite be in a recession but times are tough and people need a roof over their head.

We are more than happy to have a chat to anyone that has concerns whether it be selling your home, renting and even buyers needing help.  I would highly recommend getting our opinion and advice before you make that final decision. After all, your biggest expense is having a roof over your head.  Let’s get it right together.

 

Robert Seib

Principal