This is serious – residential sales are collapsing in real time

Public figures on real estate sales are always rubbery. Our information from the coal face reveal a very grim prime November selling season across Australia. In our own suburb here in Balmain (Inner Sydney which has been immune to most negative trends) the current stock on the market is 187 properties. This equates to nine months demand. This is the last selling week of the year – the available stock should be down to almost zero. Small solicitors in middle class suburbs that normally handle a conveyancy each week are reporting one in two months. Sales implications are dramatic; now is the time to be reviewing and implementing 2009 marketing and sales strategies.