Best sellers' market for 20 years: John McGrath

Best sellers' market for 20 years: John McGrath
Jonathan ChancellorDecember 7, 2020

"This is the best market I have seen in 20 years, for sellers," founder and CEO of McGrath Real Estate Agents, John McGrath, estimates.

"The Sydney market is up from late last year," he told Radio 2UE today.

"Cool heads are important at this time, so don't over-stretch," he added.

He said one of the reasons for the recent price gains was that listing volumes were down by about 10%, according to the realestate.com.au website.

"It is a short-term blip," he said.

He said another reason for the reduced volume was that the recent intensity of sales had meant potential vendors were worried they would struggle to buy back into the market after any sale.

"They are concerned about going on the market before buying, which is not the natural cycle," he said.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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