I’M seeing more sellers across the Redlands and Bayside choose private treaty campaigns over auctions.
Buyers remain active, but they are taking more time, carrying out more research and negotiating more carefully than they did a few years ago.
Private treaty gives sellers greater flexibility and, for many properties, is better suited to the current market.
In Wellington Point, private treaty remains by far the most common method of sale.
Auctions can work extremely well for premium waterfront homes, unique properties, or homes that are difficult to price accurately.
However, most buyers looking for a family home prefer having time to inspect the property, arrange their finance and negotiate with the seller.
For these homes, private treaty is often the better fit.
Demand across the Redlands remains strong, although the market is now more balanced.
We are no longer seeing the enormous crowds that became common during the Covid property boom, but well-presented homes with realistic asking prices are still attracting plenty of interest.
Buyers have simply become more selective and are making considered decisions before committing to a purchase.
I’m also seeing more properties sell before their scheduled auction when a strong offer is received early in the campaign.
Many buyers would prefer to secure a property beforehand rather than face the uncertainty of competing on auction day.
When an auction does not proceed, it is often because the seller has already accepted an attractive offer.
Higher interest rates and cost-of-living pressures have undoubtedly made buyers more careful with their budgets.
They are spending longer researching the market and making sure a property is right for their needs and finances.
Some vendors are having to adjust their expectations, but I wouldn’t say we are seeing major price reductions across the board.
Homes that are presented well and priced correctly from the beginning are still achieving excellent results without requiring substantial discounts.
