You can feel the anticipation in the air as crowds line up at open inspections, nervously checking their iPads for fresh listings and plotting a busy weekend of viewing homes. There’s no two ways about it – market is back! 2012’s year of fence-sitting is well and truly over, with a terrific return to form in consumer confidence. Of course, established suburbs close to Melbourne have continued to enjoy popularity throughout the last two years. In outer areas however – further from trains, amenities and workplaces – growth has been somewhat on hiatus during this period. Vendors are now responding to the market’s enthusiasm, with more listings coming to market and strong buyer interest and auction attendance. Over 900 properties are scheduled for auction state-wide over the coming two weekends. Last Saturday’s auction clearance rates are healthy, having achieved 73% sold from a total of 183 auctions held. The Age and other publications have begun to note the change of sentiment from the market, reporting that competition has increased, which in turn begins to impact on the prices achieved. The Australian Bureau of Statistics provides further proof that times are a-changing across the nation, with an increase in property prices of 2.1%.
What does this mean for you? If you’re a buyer intent on making 2013 the year of your first home, upsize or investment portfolio growth – strike now while the iron is hot. Early adopters and those who spot housing trends first are those who enjoy the greatest benefits when purchasing. Chisholm & Gamon are seeing larger numbers of attendees at open for inspections, with our databases growing full of aspirant purchasers. Now is the time to review your financial position, visit your broker and planner – do the research you need to ensure you are able to respond when the right property appears. Visit Chisholm & Gamon’s website and sign up to our buyer alert system, ensuring you miss no new listings to hit the market ‘softly’.
In the event you are selling to purchase again, 2013 offers you momentum and demand from a market previously conservative in their estimation of growth. S Why not take the time to meet with one of our agents and ascertain the value you may achieve at market. Who knows? It might be a welcome surprise.