Wait, and It’ll Cost You: Why Sitting on the Sidelines Could Be a $100K Mistake

There’s a buzz building in property this winter that suggests we’re going to have a big spring. Listings are still tight, but buyer confidence is creeping back in and transactions are happening faster and with more heat than we’ve seen in months.

But here’s the thing: by the time the data confirms the upswing, you’ll already probably be behind it.

More people are stepping back into the market. Those who were hesitant six months ago are starting to make moves. And our network is telling us they’re expecting a surge in properties hitting the market come spring. While the appetite is returning, decisiveness is creeping back in. And that’s where it gets interesting.

If you’re thinking of upgrading, investing, or finally getting into the market, consider this: if you’re trading in the same market, the timing matters less. But if you’re sitting out altogether, waiting for things to “settle” – you could be left behind.

A recent off-market Toorak apartment sale that we managed for the vendor is a textbook example. Our client expected around $1.5 million off-market. A buyer inspected but didn’t act. Two weeks later, it hit the market and ended up selling for $1.76 million after competitive bidding. That same buyer came back—too late—and ended up as the underbidder at $1.755 million. That’s a $255,000 regret, and a return to the drawing board. Not to mention that price now sets a new bar for similar product in that area.

Stories like this are going to become more common as the market returns. We’re already seeing more expats circling from overseas. We’re talking to investors abroad who want into Melbourne now, while it is still undervalued – we’re talking Singapore, Hong Kong and even Dubai.

The September quarter is shaping up to be a real turning point. Our gut says it’ll surge, and the longer you wait, the more it could cost you.

While a buyer’s advocate will charge a fee for their service, waiting as the market starts to surge could mean you miss out repeatedly – and as the market rises – this could cost you six figures. Sometimes spending money is a means to save it.

Lauren Staley

Managing Director

Infolio Property Advisors