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What does a flat market mean?

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Currently you may hear in the media the terminology “Flat Market” when referring to the Australian market conditions. Basically this refers to a market that has little to no growth in the housing sector and there is slightly more supply than demand. Buyers tend to be a little cautious and vendors tend to hold onto unrealistic price expectations.  I would suggest that buyers looking to purchase in a flat market not be scared away and that in fact these conditions can be favorable, as you can negotiate on the price even if some sellers may still hold onto an unrealistic expectation of their homes value. Other sellers in the market do not and may be prepared to negotiate which will work in your favor. If you are looking at selling your home then I can only suggest keeping your price realistic in the current market and concentrate on the presentation and making your home stand out against similar homes in your area. 

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