I’ve been looking at a few graphs which I obtained from a local real estate agent concerning sales volume i.e number of properties sold in a particular region. Are high sales volumes an indication of a good area?
No not necessarily, could be quite the opposite!!!
If everyone is selling up (say for example in the same street) I’d be wondering what plans the local council had on the boil??!!!! [blink]
Jo
Thought it might be an indication of market activity i.e if people are buying in a region it may be for a reason
TD,
If I may offer some advice (for what it’s worth) as there will be those who disagree with me on this, and that’s fine.
NEVER FOLLOW THE HERD!!!![blink][blink][blink]
Do your homework, research the market, watch ALL figures/trends, sales/rental prices, CG trends, infrastructure plans etc etc, and then decide for yourself.
A follower will never win the race; be your own person, and you will do fine!!! [biggrin]
Jo
Tough Deal,
I think a lot of people are still cashing in on CG’s left over from the boom. If there is a large volume of sales (as opposed to “for sales”) then obviously there is demand in that area- demand is always a good indicator for purchase decisions. Hopefully, demand will outweigh supply, and then your property will at leeast maintain value.
Sometimes I like suburbs that have very few properties for sale, and where there has been hardly any new building over the last number of years. There are still some gorgeous suburbs in Sydney that have not been tarnished with the Meriton brush.
kay henry
TD,
A word of caution, and I mean no disrespect to anyone’s opinion (each to his/her own) but high sales volume is NOT necessarily an indication of
demandalthough it can be (ie. for affordability) however, it certainly DOES NOT NECESSARILY equate to VALUE; this can be said for areas where sales are minimal simply because people like the area and are reluctant to leave it, hence those trying to buy in will jump on the first house that comes along!!!Never rely on one source of information alone; always check as much information about the area of interest as possible. If you rely on sales graphs; you could be shooting yourself in the foot!!! Forewarned is forearmed IMO; stupidity bears it’s own price!!!
Jo
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