Early birds out in force at the year's first Super Saturday

Last weekend was the first big auction week back for 2014, a Super Saturday in fact (around 150 $1 million plus auctions in Bayside and the inner east).

Has the mood changed from the good times for buyer (choice) and seller (competition and price) pre-Christmas times to a more challenging market?

Absolutely not – in fact it has gone up a notch for now and especially at the higher end!

What we saw this weekend can be read no other way than "bang!" A very strong start. If the market continues at this level, prices will rise quickly and substantially.

Of course, we do need to wait and see what happens once the traditional first flush of the new year dissipates a little. But it is certainly the case that this time, leading up to Easter, is a good time to be selling a $3 million plus home.

Why?

Well, because after the long Christmas break, after Australia Day has been and gone, a number of buyers and sellers are fired up ready to do something, anything, just to get a home sold or buy a home now. Last weekend’s Super Saturday proved this commonly-known fact within the industry.

So the old girl (the market) has started like a train, house on fire, out of the blocks fast, whatever cliche you want. But let’s see how she settles before we declare that the sky has fallen in, or you’ve hit the jackpot – depending on which side of the transaction you sit.

Let’s see how she settles now that this first wave of activity has satisfied a number of the early birds.

Mal James is principal of James Buyer Advocates, which advocates on behalf of buyers of property over $1 million.

Mal writes weekly auction reports, advice and in-depth market analysis on James' website.