AC/DC – A HIGHWAY TO SELL !!

AC/DC – A HIGHWAY TO SELL !!

When it comes to real estate there is always something to look at although some look much deeper, to become better informed. Take the apartment market which at present, is very revealing. A certain pattern is evolving that clearly identifies a preference for electronic marketing.

In Mosman we conducted an in-house case study on apartment / townhouse statistics by comparing offline advertising in Saturday Domain to that of online advertising in www.domain.com.au. Here is what we identified.

Mosman Apartment / Townhouse Statistics Online
1 bedroom & studios (any $) – 43 listings appeared
2 bedrooms (any $) – 60 listings
3 bedrooms (any $) – 37 listings
Total listings in Mosman – 140 listings

Out of these 140 online listings there are 25 over $1.00 million.
On average in recent weeks, just 53 of the current 140 listed online properties were advertised in Saturday Domain. The reason is that online is obviously more cost efficient and because properties today are on the market for longer, advertising budgets are exhausted.

Cremorne Apartment / Townhouse Statistics Online
1 bedroom & studios (any $) – 19 listings
2 bedrooms (any $) – 25 listings
3 bedrooms (any $) – 24 listings
Total listings in Cremorne – 68 listings

Out of these 68 online listings there are 10 listings over $1.00 million.
On average in recent weeks just 35 of the current 68 listed online properties were advertised in Saturday Domain.

Neutral Bay Apartment / Townhouse Statistics Online
1 bedroom & studios (any $) – 19 listings
2 bedroom (any $) – 37 listings
3 bedrooms (any $) – 12 listings

Total listings in Neutral Bay – 68 listings

Of these 68 online listings, there are 10 listings over $1.00 million.
On average in recent weeks, just 28 of the current 68 listed online properties were advertised in Saturday Domain.

Whilst this may infer that online is preferred to offline, it is actually the opposite, as the vast majority of agents would much prefer to have all the properties advertised in Saturday Domain and not the electronic form. The above statistics certainly suggest that the time has arrived for Saturday Domain to take the next step and appear online which (sadly) is not the case at present. So to be totally transparent, I am in discussions with Fairfax about this idea becoming a reality. We also believe that there is a strong argument for the mid-week Domains to appear in the electronic form as well.

Easter has slowed the lawyers down, so next week we will have some very positive sales results which further strengthen the resolve of the local market. The interesting question at this juncture is just when will the property market swing back into full mode again? Currently, we are contending with Easter, Anzac Day and school holidays which finish on May 1.

Like most things in life, the market will tell us when it is ready and not the agents who tell it very differently. Some things never change – although it is clear that other things need immediate change. Today it is just a matter of adding a bit more electricity. Cheers ^__^

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