![]() ![]() Scarpignato also says that ‘hotspotting’ tends to happen in hot or rising markets, so it’s something that has been particularly common in Sydney and Melbourne in the past couple of years. ‘Hotspotting’ happens when a good sale encourages other people in the area to sell. “If a property goes for a lot of money it often gives the neighbours the confidence they need to come to market, especially if they’ve been thinking about it for a while.” “‘Hotspotting’ happens when a good sale encourages other people in the area to sell,” Scarpignato says. Some think ‘what’s wrong? Is there something coming up? Is there an easement? Are there bad neighbours?”, explains Tom Scarpignato from Belle Property, Neutral Bay.īut he says that the explanation is much more benign than that: It’s usually a case of what real estate agents call ‘hotspotting’. ![]() “When a number of properties that are close to each other come up for sale buyers do get quite suspicious and a bit cynical. More often than not the reason a number of properties situated near each other go onto the market simultaneously is because something nearby sells first.
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