I’d be really interested to hear some thoughts from young agents on your Property Sector forecasts for 2010 & where to from here?
I’ve been reading some killer reports recently on 2009: the year that was, but now the challenge lies in navigating through the unchartered waters of 2010.
Who is expecting a market recovery?
Will the rate rises at the end of 2009 lead to a stagnant market place for you locally? Nationally?
How are buyers reacting to recent rate rises and the potential / reality that there may be more to come in the first quarter of 2010?
Are you noticing a return of investors to your marketplace?
Looking forward to hearing your thoughts/comments.
January 11, 2010
Alana, it will be interesting to see if the NSW governments decision to extend the stamp duty cut for new homes will have any impact?
http://www.realestate.com.au/doc/Resources/News/stamp-duty-extended.htm
Probably, won’t do much for agents except for people that are considering selling & want to move into a brand new home.
It should be a good thing for the building industry & investors, which is always a good place to try to stimulate an economy.
January 12, 2010
So far the start to 2010 has been an exceptionally busy one for our office. The remaining stock I had left from 2009 is currently all under offer as are most other properties from the other agents in the office. We have had many investors drop into the office to discuss buying property as they believe the rents are increasing and rates are still low (most investors have been expats visiting from overseas, who have lived in the area before). It would seem that Australia’s property market is receiving good press or good word of mouth overseas.
It’s hard to tell where this year will go as we have barely begun. If the lack of stock continues I think we will see growth again however that could be overshadowed by more rate rises. The investors don’t seem overly worried about the rate rises however the First Home Buyers and buyers in lower price categories seem to be talking more about the possibility of rate rises.