A national research by RateMyAgent has revealed that sellers’ satisfaction is on the rise in 2019, as they begin increasingly to achieve higher than expected sale prices.
RateMyAgent’s quarterly Price Expectation Report for January to March 2019 asked successful vendors if the sale price achieved was above, below or in line with their expectations.
RateMyAgent CEO Mark Armstrong said the results showed an increase of 4 per cent, after continual declines in June 2018.
He said vendor price expectations have taken a turn in the first quarter of 2019.
“All the doom and gloom news from last year has left sellers adjusting to a new reality,” Mr Armstrong said.
“Not only are they realising that it’s not that bad, but they’ve adjusted their sales expectations, so their results are turning out better than they anticipated.”
He said the satisfaction growth is being seen across all price segments, but mostly in the premium end of the market.
“Interestingly, the premium market tends to find its feet first, because there is always an underlying demand from people with strong and stable incomes.
“The thing that shifts is the psychology, from overthinking the wrong time to buy and going into the right time to buy. Also, these buyers are often more confident as they have more equity.”
The report found that both Queensland (32 per cent) and New South Wales (30 per cent) have risen in satisfaction in the last quarter, with a 5 per cent increase, overtaking Western Australia (25 per cent). Tasmania (42 per cent), the ACT (40 per cent) and South Australia (38 per cent) remain at the top of the happiness leaderboard.
It also found that while Tasmania held on to the crown of the happiest state, Launceston had fallen from fourth place to 23rd nationally, with metropolitan Adelaide jumping from sixth to third place at 44 per cent.