Buyer momentum and seller confidence is both near its peak with Australia giving various optimistic signals in the property market. The historical barometer suggests that low interest rates have always evoked maximum response from the buyers. Australian Property Monitors (APM) is already showing a 1.5% escalation in its median prices with Gold Coast reporting the highest escalation of 2.2%, says Larry Schlesinger for the Property Observer.
While repeat buyers contributed heavily towards the comeback of the property market in 2012, it was the first home buyers and investors who played a very smart hand. Once again, we are looking at this combination to provide the initial spark for 2013. Hefty yields, appreciable capital gains, and low interest rates are driving investor momentum in the right direction. After having been in the doldrums for long, the Prestige Market is responding beautifully to the perceived property boom, share market bullishness being its key driver. Read the original article here.
We can learn a lot from the game of Monopoly, and in a neat way. Real estate investors across the spectrum can learn how properties can be leveraged just by going back to the root idea of Monopoly. If you were a smart player of this game, you must have followed techniques of creating multiple properties, forcing home shortages and so on.
Vendor discounts have dropped considerably providing sellers with many reasons to laugh. Additionally, the property prices are on a rise, interest rates are pretty stable and Australia is looking at a very high auction clearance phase lately. Charlotte Cossar for Realestate.com.au says that this might just be the time for you to put up your house on sale.
Doomsday predictors are never short on work- after all, rumour mills work overtime. However, those who have predicted a crisis will only agree that the real estate market is going strong, quite strong. People are still borrowing amounts pretty close to what they borrowed in peak years to fetch properties in Australia. Annual borrowing for residential mortgage shows a steady picture. Michael Matusik from Property Update rightly points out that all three types; the first home buyers, second + buyers and investors are showing strong signals.
Home values for dwellings (attached and semi-attached homes) reported a leap of 2.8% over the March quarter. Michael Yardney for Property Update suggests how each area has done well, with Perth showing highest growth and every capital city, except Adelaide, contributing to the total sum. Middle-priced housing sector is exhibiting maximum response, posting a hike of 1.6% in value of home dwellings. Contrarily, the lowest-priced and the highest-priced end of the spectrum have displayed a fall of 0.9% and 0.6% respectively.
The Australian property market is currently in a very stable phase. While there is no recession or bust phase in sight, it will be fruitful to learn the right ways of making profits in today’s market. Pete Wargent for Property Update suggests how it may not be the best idea to buy property in your own backyard.
