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.”
Follow us on Twitter.
Was this article helpful? Place a link to it from your website, or share it using the button below.
Recent articles:
Major expansion of Bowen Basin gas project
Calls for easements to be compulsory in Queensland
Development red tape scaled back in Queensland
API readership increasing by thousands
Property market warming up for spring
Housing market recovery imminent: CommSec
Leave a comment
Comments
Article source: http://feedproxy.google.com/~r/API_Property_News/~3/nhv0EvP5cL4/property-market-warming-up-for-spring