SELLING SEASON: Where do vendors get what they want?
WHEN it comes to getting what they want, house and unit sellers in Yamba have been very satisfied with their results over the past 12 months.
Of the major areas, Yamba leads the pack for vendor discounting, and falls just behind Waterview Heights for the overall Clarence Valley title.
Yamba saw vendor discounting at an -1.5% for units and -2.3% for houses across 232 total sales last year, and Ray White Yamba principal licensee Daniel Kelly said that good results continued.
"Last month for August, across the deals our clients had to discount an average of $2812.50, which in a lot of respects is substantially under that average.”
"On average Yamba does tend to sit between that 2-3% figure, and traditionally, because the properties are more sought after, the market is driving the pricing to the point where the owner has accepted,” he said.
"There's still an argument to be had about vendors having realistic pricing and less flexibility, but then sale strategy and negotation is definitely part of it in the scheme of things.”
Mr Kelly said contrary to many horror stories circulating in metropolitan media over city prices, the local market was better insulated against a fall.
"While prices have definitely started to cool in the city, there's a lot that is insulating our market here,” he said.
"All of the infrastructure projects going on around the place help that, but also afterwards area like Yamba only become closer to Brisbane, making us a more popular place to visit and invest,” he said.
"There are certainly a lot more positives than negatives.”
And with that in mind, Mr Kelly said that the message over selling is clear.
"It's a great time to sell. The reality is if you're thinking of it, but not going to do it now, there's no point in waiting. The market has seen very strong performance with that spike in growth and it has to level out which is what we're seeing over the last six months.”
He said this was indicative of market conditions which had been fairly steady in recent years.
"It also reflects the fact that vendors realise when conditions are soft there is a need to adjust prices to meet the market,'' he said.
Mr Kelly said he had been chuffed after a recent trip to Sydney where he was named the number five ranked regional selling principal for the Ray White group.
"It was a nice surprise, but if was big feat for a group of our size, and to get that sort of ranking I'm pretty chuffed with it,” he said.
CLARENCE VALLEY vendor discounting for the past 12 months
(NAME, Avg price, vendor discount)
WATERVIEW HEIGHTS $440,000 -1.3%
YAMBA (U) $435,000 -1.5%
YAMBA (H) 145 $535,000 -2.3%
NYMBOIDA $328,500 -2.6%
GULMARRAD $482,500 -2.9%
TOWNSEND $334,500 -3.1%
SOUTH GRAFTON $257,250 -3.2%
LAWRENCE $409,000 -3.5%
JUNCTION HILL $355,000 -3.8%
WOOLI $480,000 -4.1%
COUTTS CROSSING $345,000 -4.2%
MACLEAN $357,500 -4.3%
GLENREAGH $429,000 -4.6%
ILUKA $435,000 -4.8%
GRAFTON (H) $315,000 -4.8%
GRAFTON (U) $245,000 -5.1%
WOOMBAH $426,500 -6.7%
ULMARRA $250,000 -7.2%
COPMANHURST $267,500 -7.3%