Approaches to consider when negotiating without finance pre-approval
Currently, auction clearance rates are down, and bidder numbers are also reduced. No longer are auction pass-ins a reflection of a compromised or low-scoring property, but they are a sign of the times. Good properties are passing in and buyers are relying more on finance clauses and private sale opportunities.
Sydney and Melbourne have faced some significant changes in their respective property markets over the past two years. Sydney’s correction commenced in mid-2017 and Melbourne’s followed some eight to nine months’ later. In response to the cumulative effects of APRA’s crackdown on lending (initially on investment lending and later on servicing across all loans), and our recent Banking Royal Commission, our property markets have experienced a sudde…
