What Happened to the Markets?
What happened to the warm spring season with its fresh leaves and vibrant rebirth? It seems to have been a real estate year without a spring! Just a continuation of winter. Spring is the time when sellers are happy and buyers are confident. Perfect conditions for champagne and congratulations.
So far, that’s been missing. It’s not that the market is deteriorating It’s just that it doesn’t seem to be any different to what we’ve been experiencing right through 2011.
It’s not for a mere real estate agent to be prophetic about European economic events. Everyone seems to have an opinion about the likely outcome those events will cause it seems ages since external events have had such a high priority in a property market’s thinking.
Open for Inspection attendances have been good. Plenty of peopleare interested. Plenty of people have been making offers or suggesting potential offers just as it’s been all year. Could this be our first non-spring season for a very long time?
The news, late in the month, of an Australian interest rate cut could not have been more welcomed. It’s sure to have an impact. It’s sure to create confidence that the cycle of interest rate increases an expectation encouraged by the Australian Reserve Bank for a very long time may be behind us.
Across our markets, investors are developing a strong presence.In many cases, purchasers are describing their acquisition as getting a positive tick in the investment return calculation.
So good that the possibility that the acquired property value might decrease slightly in the future cannot dampen their enthusiasm for validity of reason to acquire.
Brian White - Ray White