Property market warming up for spring

Property market warming up for spring

Posted on Thursday, August 09 2012 at 4:08 PM

Are you thinking of selling this spring? You could be entering very favourable market conditions, according to RP Data.

Research analyst
Cameron Kusher says the lead up to the spring selling season is looking more
positive than the same time last year and the housing market is now in a
stronger position.

“In comparison to
recent years, we wouldn’t expect the housing market to power along through
spring in the manner it has previously,” Kusher says.

“On the other
hand, a number of measures are more positive than the 10-year average and these
are likely to be a positive for the housing market. These measures range from a
lower number of new property listings entering the market and other measures
such as inflation, which is well below average levels.”

It’s also
important that investors looking to buy analyse how the economy is tracking
compared to a longer-term average to achieve a better understanding of the
overall state of the economy, Kusher adds.

For example,
retail trade has increased by 5.4 per cent over the past 12 months and interest
rates remain low, with the cash rate at 3.5 per cent.

The number of
newly advertised properties for sale has also fallen and are at their lowest in
27 weeks.

“Overall, we’ve
seen some positive movement for home values, with new stock being added to the
market lower and each of the vendor metrics – selling time, vendor
discounting and auction clearance rates – all showing improvement.”


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