Traditionally September heralds the start of the spring selling season where the warm weather and blooming gardens inspire people to sell their houses. After the winter listings drought, real estate agents gear up for the year’s busiest period and hope to power on uninterrupted until collapsing in an exhausted heap on Christmas Eve.
Will 2009 be any different? Not according to the selling agents we have been speaking to. Buyers will be able to expect more choice and, hopefully, less of the competition which has seen weekly auction clearance rates exceed 90% in some parts of Sydney.
Many experts are saying that the first home buyer segment of the market will die down and be replaced by investors entering the market. Our enquiry levels certainly support this forecast.
A recent Residex report said that “housing finance results released by the Bureau of Statistics, [showed] that most of the growth in lending is coming from existing home owners on the move. While investor activity is still weak overall, we expect it to increase later this year and increasingly take over the running from first home buyers.”
The report went on further to say that “investors are returning to a housing market which has withstood the traumas of the last two years far better than commodities, property trusts, shares or term deposits. Despite the doom and gloom merchants, the housing market did not crash or even lose any real value.”
In the meantime, the roll-on effect from the first home buyer boom means that the most competitive segments of the market now seem to be 2nd and 3rd home buyers with budgets from $750,000 up to around $1.3 million. Let’s see if the expected high number of spring listings will materialize and dampen the general enthusiasm this year.
For more information go to our website: www.gooddeeds.com.au
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment