Presented by Renovation Matters

Today’s market is more challenging for a seller than the past couple of years where we had buyers purchasing property in a frenzy due to FOMO.

With the interest rate hikes over the latter part of 2022 and early 2023, we have seen a definite shift in the market turning from a seller’s market to a buyer’s market and affecting sale prices.

This shift requires a new strategic plan, one which is different form the plan utilised in the “HOT” market. Sellers need to be very strategic and careful not to overcapitalise, and ensure the money spent on a renovation will provide a good return in the way of increased sales price, or simply being able to move the property on and get it sold.