Higher FHB and investor activity indicated in the Australian property market
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.