blog.buysellrealestate.com.au

A commercial property in Campsie, New South Wales, has changed hands for
the second time in 20 months following its post-auction sale.

Agents of Fitzroys have sold at auction a fully leased retail and office building in the Melbourne CBD on a yield of 5.65%.

The Avdiev Group has released a report indicating that property
remuneration is being affected by the changing marketplace and that a
two tier structure is now operating

Agents of Colliers International and Raine & Horne have sold a
commercial building in St Leonards, New South Wales, at auction.

A retail and office property on Young Street in Neutral Bay, New South Wales, has been sold at auction by agents of CB Richard Ellis.

A razed and vacant residential development site in Cabramatta, New South Wales, has been sold at auction.

Australian property prices fell slightly during the September quarter, with an Australia-wide fall of around 1.8%. Some of the hardest hit suburbs are also the wealthiest, with inner Melbourne suburbs tumbling by up to 13.2%. This is unexpected, with a lot of people thinking that inner-city suburbs were the safest bet.

Anyway, some property-analysts/2008/11/12/1226318726913.html”>experts are frustrated by the ongoing negative news and opinions being expressed within the mainstream media.

“The property market is based on supply and demand fundamentals, such as property and employment growth, and these factors remain solid in many markets, including Brisbane. People need to remember that we are suffering from a financial crisis, not a property crisis.”
- property-analysts/2008/11/12/1226318726913.html”>Colleen Coyne

Some agents aren’t helping things either. I spoke with one Brisbane real estate agent recently who said that property sellers are telling her that a lot of other agents are really talking down the property market, and she’s becoming quite frustrated by this. I guess some agents feel that they need to talk down the price in order to get the sale, and to an extent that’s true. Some sellers are unrealistic about what they can achieve in the current market, and that needs to be talked through, but constant negative talk can be self-fulfilling.

Another real estate agent was telling me that he’s having no trouble selling appropriately priced homes and units. Yes, prices might be down on what they were last year, but as I’ve said elsewhere it’s still a good time to be buying and selling real estate:

1. Make sure you have a large deposit
2. Know the market.
3. Sell well.
4. Be in it for the long term.

Property prices go up and down, and that’s ok. Be smart about how you go about it, and you can do quite well. I work in the real estate industry, and my business is going absolutely ballistic at the moment. There are so many properties coming on to the market, and agents are getting really, really busy.

WA Property Project Marketing has sold an industrial property in East Rockingham, Western Australia, by private treaty.

An investment property in Southbank, Victoria, has been sold via a tender sale that was conducted by agents of Kliger Wood.

Colliers International is marketing two shopping centres at the Hume
Freeway town of Wodonga just south of the Victoria and New South Wales
border.