Quarterly Property Market Update – October 2013

Based on The Age Sunday Results*

Home Buyers and Investors Out In Numbers

Spring is shaping up to be a good time for the market overall this year. Low interest rates and general market confidence are combining with improving economic sentiment overseas to provide an optimistic back drop. Buyers are in good supply making sellers happier to list and dispose of their properties. The end result of this is likely to be high levels of activity. Home buyers should have a good choice this spring with sellers pleased at the prices they achieve.

Noticeably, there are good numbers of local investors enjoying the current market conditions who are occupying the buyer’s ranks … And with gross returns on quality residential property at around 4%, depending on what you buy, you can hardly blame them. As a proportion of our clients, investors are currently higher than they have been previously, with the $500 to $700,000 price range being most popular.

Barring unforseen dramatic events, the property market appears set to maintain a solid footing continuing into next year. Following the GFC and constant negative news from Europe finally abating, positive sentiment is re-emerging. Additionally, big picture fundamentals also look enticing as our major capital cities have continual prospects of population growth from overseas.

If you would like to discuss our assistance, call us to see how we can help you with your property purchase.