The savviest investors are those who are looking for great bargains when other buyers have their eyes turned away and looking this Christmas season may give some investors an edge over others, according to leading property experts.
Buyers’ agent, Rich Harvey of propertybuyer.com.au, said Christmas is a great time to invest in a property because there is less competition from other buyers and some vendors willing to make a quick sale.
Mr Harvey told Smart Property Investment that since the market goes to sleep for about a few weeks over the Christmas and New Year period, the best time to buy is just before Christmas.
“Christmas brings a deadline to your transactions, and we find that vendors become a little bit more motivated to accept offers and buyers also become keen to secure a property,” he said.
While there is not a lot of new stock coming onto the market, Mr Harvey said there may be an overhang of listings, which may provide opportunities for the smart investor.
In addition to savings in the sub-$1 million market, investors may also be able to secure substantial discounts on properties in the super prestige market above $5 million, he added.
Another buyer’s agent, Victor Kumar, director of Right Property Group agreed that the holiday season is a good time to invest.
However, he warned that investors should avoid buying a property whilst at their holiday destination, and that if they do, buyers should look at the fundamentals before making a decision.
“Quite often the decision is clouded by the euphoria of being in a place you like,” Mr Kumar said. “Ask yourself the question: would I be buying this or even evaluating this had I not been here on holidays.”
Century 21’s chairman Charlies Tarbey explained to Smart Property Investment that while investors currently have a great opportunity, it’s due to consumer sentiment and supply and demand rather than the Christmas season.
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