Ray White Victoria corporate auctioneer Jeremy Tyrrell is optimistic about 2020 and says he’s expecting positive growth for the property market.
After the highs and lows of 2019, Mr Tyrrell – who has 20 years of auctioneering and real estate experience under his belt – says the new year has begun with positive momentum.
“With the Australian elections over and new first home buyer schemes available, I think 2020 will usher in a lot of positive growth for the market,” Mr Tyrrell said.
“This year is one of the most exciting years I’ve seen in a long time and I think that’s got to do with a few things – we are just starting to settle down after 2019, our lending is a lot more accessible and I don’t think we’re seeing the volume that we’d normally see at this time of the year.
“There’s a lot of buyer confidence out there as prices continue to rise – it’ll give owners a lot of confidence to go to the market and really get some good outcomes.”
Mr Tyrrell is also expecting a large showing of first home buyers entering the market in the wake of more than half of the 10,000 First Home Buyer Loan Deposit Scheme spots on offer already filled.
“I think that first home buyers are heavily engaged with the government incentives and that’s another reason why the markets are strong,” he said.
“They’re incredibly active and I think that they’re very keen to take advantage of the government incentives on offer.”
With limited stock and first home buyers flooding the market, Mr Tyrrell said agents are relying heavily on auctions for the best result.
“We’re definitely seeing a lot of success through the auction process and that’s simply because it is highly competitive out there and so when you have a highly competitive marketplace that really doesn’t have the supply of properties, auction is still the preferred method to get the best outcome,” he said.
Mr Tyrrell previously worked for Ray White as chief auctioneer from 2013 to 2015 and is excited to return to the company where he can focus on what he loves doing best – auctioneering.
“I absolutely love everything about auctions and the process,” said Mr Tyrrell, who predicts he’s called between 4000-5000 auctions and is a two-time winner of the Victoria REIV auctioneers award.
Mr Tyrrell also has some words of advice for up and coming auctioneers in the real estate business.
“I think it’s really important that you try to find your own identity because that’s where you’ll be a lot more comfortable in being you – try to be really authentic and genuine to yourself,” he said.
“You need the structure but try and really insert your personality into the auction and I think if you go with that approach that’s really important.”
