I have a property for sale at the moment in Western Sydney and it has long term good tenants within it, paying market rental. I know that the market is ‘flat’ in most pockets of Sydney and that it is a buyer’s market, but my property has been on the market for nearly 4 months!
However I was speaking to a developer on the weekend, as successful developer I may add, and he said that my problem wasn’t the property, it was that it wasn’t staged, hence buyers wouldn’t buy. Staging or furnishing costs thousands of dollars, and I definitely agree in a new build home or an empty home on the market at above the price bracket of $600K or so it would make sense. BUT for an investment property with paying tenants this is not possible unless they are moved out...
Does anyone have any advice on this? Or has anyone been in the same situation?