The high demand at open houses and auctions in the Illawarra recently is not surprising for many experienced real estate agents.
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MMJ Real Estate agent Daniel Hastings said upwards of 100 people at a time were viewing properties these days because of a lack of supply in the market.
'While buyers are still confident because of low interest rates and other factors, definitely demand is outstripping supply, so at times we are seeing significant turnouts to open houses," he said.
"It is a strong market here at the moment. I think the Illawarra hasn't been dramatically effected by the COVID pandemic generally speaking, so obviously that maintains some buyer confidence.
"The pandemic also made people think initially that it wasn't a good time to sell even though that hasn't turned out to be the case.
"That has dried up the stock quite noticeably right now, so it has certainly made that more advantageous for sellers presently at least.
"Despite some economists suggesting there might be a 30 per cent drop, we've certainly seen significant rise in prices for the last year especially."
Mr Hastings added it was disappointing to see many agents opting for off=market sales.
"They are just doing it for a quick sale at times I feel, whereas that doesn't necessarily serve your seller in the right way," he said.
"I would prefer to be doing the work whereas some agents just target a few buyers that they have on their list.
"I prefer to do the work and get the best for the client than cut corners and die wandering about not testing the market properly."
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