Port Macquarie is still a healthy property market with a lot going on.
Although the media are telling us we are in a declining property market, this doesn’t reflect the true story of what’s happening in Port Macquarie right now. Chris Koch spoke to Focus this month to give his insight into our local real estate market, as well as three important tips for sellers right now…
We’ve all heard the reports that house prices are falling, that finance is cheap but harder to obtain, that 2019 is a buyer’s market and that vendors will have to settle for less. But Chris Koch, long-term local identity and Principal of Laing+Simmons Port Macquarie says that properties are selling for fair prices, but on the whole, vendors are not collecting the windfalls they have in the past few years.
Chris is quick to point out that while the number of sales are down compared to 12 months ago, Port Macquarie is still a healthy property market, with a lot going on. There are buyers out there in the start of 2019 – plenty of them – but we are seeing definite markets within markets, with good prices being achieved in some areas and property types, and less so in others.
To maximise their sale price in a challenging market, Chris says sellers need to get three key factors right from the outset.
Firstly, presentation is vital. When buyers are spoilt for choice, you need to make sure your home stands out and attracts plenty of attention.
Secondly, your asking price will be a deciding factor between getting strong numbers through an open home, or next to none. In the current conditions, this point has never been more true.
And thirdly, your choice of agent is crucial. In a seller’s market, less experienced agents can easily give the appearance of success. But when the market changes, it’s no longer about just finding any buyer. This is when working with an agent who has a solid grasp of the local property cycle, and is a proven negotiator in any market, will pay huge dividends when getting the best price.
A challenging market throws up lots of questions and possibilities. Chris says talk to an experienced local agent and you might be surprised to find that despite all the property doom and gloom in the news, there’s an undercurrent of optimism in the market. Chris says when all is said and done, if you have a property in Port Macquarie, you still have something a lot of people want.
Recommended reading – How to Choose Your Real Estate Agent