Warning For Australian Private House Sales
The Real Estate Institute of Victoria believes the state may see a lower amount of properties go under the hammer in 2011 as some sellers opt for private transactions instead. At the same time the UK’s most established private house sales website warns of a hard time for Australian private house sales.
“Our members don’t believe there will be as many properties on the market next year,” spokesman Robert Larocca told Australian based SmartCompany “This time last year we had lots of auctions, and low private sales, whereas the inverse is going to be true now, that after weeks and weeks of these clearance rates, that will encourage some people to go into private sales. This is what happened in 2008 after the strength of 2007.”
Selling property directly and without an agent is made easier with property websites that act much like classified advertising putting buyers and sellers together. The House Shop based in the UK has been online since 2015 and helped thousands of home owners save on agents fees. The House Shop believe that UK private house sales growth has been hindered by the dominance of estate agent only websites refusing to list private house sellers properties. Major UK property websites such as Rightmove , Zoopla, Globrix, Primelocation and Findaproperty all refuse The House Shop listings reducing exposure of these types of sales .
The House Shop Director Nick Marr ” The US has a large percentage of private house sales and less dominance of agent only websites. It will be seen if the Australian housing market will be subject to practices aimed at reducing the growth of private house sales as is the case in the UK”
The Australian property market has some challenging times ahead :
- Experts predict that new home sales to remain weak during 2011 as interest rate hike remains imminent
- Banks could put 300 pubs into receivership
- Auctions market finishes 2010 with a fizzle as experts predict more private sales in new year
- $850 million Gold Coast property project in receivership
- Flood of property listings will put downward price pressure in early 2011
House prices have remained strong in Australia and many experts fear that the Australian market may well be over priced. This appears to leave a potential for a buyers market in Australia combined with a private house sale savings could be substantial