Have you seen or read the recent news reports “Greater open home attendance”, “Increase in appraisals” all pointing towards a pick up in property market”. Also Domain recently reported this in their article “Early signs of a boost to property market confidence” (courtesy Domain.com.au)
This is great news for investors and those interested in creating wealth through property. For anyone who has been sitting on the fence worrying about what is going to happen with negative gearing, a change in government, property prices etc – WORRY NO MORE!
Buyers and sellers are testing the waters in droves with renewed confidence driving an uptick in open home inspections and appraisals after the federal election.
The boost in consumer sentiment since the election has also been felt by the big banks. With the Coalition election win, the banking regulator is expected to ease lending conditions and the likelihood of the Reserve Bank cutting interest rates next week has also boosted the market sentiment.
There was a 11 per cent increase nationally in the number of people attending open homes in the two weeks since May 20, according to Domain data. In Melbourne, the preliminary clearance rate was 60 per cent, which is likely to be revised down to around 55 per cent, which will also be one of the strongest results in 2019. And this result occurred on last Saturday with the second-highest number of listed auctions for 2019 with 885 scheduled in Melbourne.
In Melbourne alone many real estate agents have recorded a significant increase in open home numbers almost across all the offices. Prior to the election, vendors were lucky to have one to two groups through on any given Saturday. Since the election, those figures have shot up to 30 to 40 groups.
According to Realeste.com.au “Borrowers are saying now is the time to buy.”
Everything is trending to give buyers confidence that means ‘NOW IS THE TIME TO INVEST’.
Investment is a long term strategy and on of the most important mantras when it comes to property is ‘You Don’t Wait to Buy Property But Buy Property and Wait”
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