Negotiating To Win
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What is the main topic discussed in this episode?
It's the Real Estate Podcast across every state, city and town of Australia.
And welcome to another episode of the Real Estate Podcast available on iHeartRadio every morning and on Spotify and Apple and wherever you get your podcasts from. Well, finally, a Friday has arrived. Yes, the 19th day of August for 2022. And coming up this morning, because it is a Friday, we're going to be looking at that all important question of how to negotiate from a position of strength. when buying property. And talking of property, shipping container homes, they are not a new concept, but are having a bit of a resurgence because of their affordability. In Cairns, there's a two-bedder container home and shed, which you can get for around $399,000. It's been listed. It's located on an elevated block with three architecturally designed 20-foot containers.
And there's also one that's about 45km from Bathurst in New South Wales. Now this home, also a container home sitting on a hill, and the new owner is going to get a parcel of land which is 113 hectares. And the asking price is between $450,000 and $490,000. So, you know, that's not too bad, is it? 113 hectares with your container home this morning.
We are just as addicted to property as you are. Every weekday morning from 6.30. From first home buyers to property investors and everything in between. Every morning on The Real Estate Podcast. It's the main centre forecast with propertybuyer.com.au.
And around Australia we go to check on your weather on this Friday morning. And first we go to Sydney, expecting a few showers today. 19 degrees is your forecast high. Melbourne also one or two pieces of rain and expecting a high of 15 degrees.
What strategies can help you negotiate from a position of strength?
Brisbane, sunshine with blue skies, 25 is your forecast top. And in Perth, cloudy but dry today with 19 degrees.
It's the real estate podcast across Australia, seven days a week. Let's Talk Property, a podcast series with Rich Harvey.
Well, after a year and a half of incredible price growth, sellers are no longer, yes, no longer sitting in the box seats. And if you look at a Sydney or Melbourne in particular, they've gone past that inflection point in the market. Now when listings were low and there were plenty of buyers, vendors could make extraordinary demands around price and conditions. They knew that if the first prospective buyer didn't play ball, there would be a dozen or so just waiting for their chance. Now, we're most likely at a point of rebalance where dominance in property dealings can swing either way. So how do you negotiate from a position of strength when a market is in a state of change? Well, to help answer that complex question, we have Rich Harvey, buyer's advocate and CEO of propertybuyer.com.au.
And a very good morning to you, Rich. A busy week?
Yeah, good morning, Craig. Always a busy week. It's been a good one though. So our team's really kicking some goals this week with some new purchases for our clients. So we're very happy.
This is a good one to discuss because we're sort of right now, the market is even evolving in August. So how would you characterise the market? Is it a buyer's market or are some people still holding on to the seller's market position?
Well, Craig, first of all, we've got to remember there's not one market that we're talking about. Right across Australia, there's 15,000 suburbs. So we can't just put a particular number or a single comment to say this is how the market is. each suburb has got individual characteristics and it's got its own supply and demand drivers. But what I can say, generally speaking, the mood of the market and where it's at right now is that we've seen the Sydney prices drop around 4.5%, Melbourne around 2.5%. When we got that first rate hike in the May federal election, that signalled a dramatic turnaround for property owners. It's turned into or turned from a seller's market into a buyer's market, but not in every area.
So what we're seeing is some areas are seeing quite significant price discounts. We're seeing like prices have already dropped 10% or more, whereas some suburbs in the regional areas and some of the coastal areas, very, very low vacancy, and the prices are still creeping upward in those markets.
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