Our friends at Elite Agent, namely Samantha McLean, raised the topic of real estate ‘click bait’ and how it is great for the news outlets but bad for the economy.
The truth of the matter is that buyers, sellers, agents, developers etc. all at some point or another become frustrated with the over exaggerations that are shoved in our faces. One minute Sydney is primed to take on London and New York as one of the world’s greatest cities and Melbourne is noted as most liveable city in the world, next minute, ARMAGEDDON.
In the article (see below link) the words ‘social responsibility’ are introduced with reference to the media’s impact on consumer confidence, the media plays a key role keeping our society informed and this information can often shape & impact our wide ranging economic stability.
Q: Is life better when you are confident or when you are lacking confidence? (Assuming that confidence is justified of course). Economic markets tend to operate better when confidence is strong too, just not over confident of course.
With reference to our Gold Coast real estate market, we are having regular conversations with buyers who are nervous to buy because of the perceived doom and gloom and constant negative reporting surrounding Sydney for example. It’s a good opportunity to take a moment and reference only a couple of years back when the media focus was on Sydney taking on New York and London as one of the world’s leading cities and Melbourne was and is reported as one of the most liveable cities in the entire world, have things gone south so quickly in this short period that houses are now to drop 40-50%?
Let’s have a look at that, Sydney, that’s a market that grew 50%+ in a short period so for it to correct 10%+ still leaves a net upside of 40%+ (numbers rounded for example).
We on the Gold Coast were not part of that exponential upside so it makes sense that we are not directly correlated in the aggressive downside moves. We are neither a party nor a bloodbath, we are solid, steady and manageable, it’s a good place to buy and sell property.
Taking on the media is a complete waste of time so whether your intention is to buy, sell or rent, contact one of our agents today and we will deliver you the facts and figures surrounding your property. No distortion, no hype, not just the things you want to hear but the situation as it is here and now in today’s market. If you want to know exactly what the market will do next year, you’ll need to call us next year, we are professionals not prophets.