Inside Property
Buyer Activity on the Up
Buyer
Activity on the Up
After
a slow close to 2008 we are confident the
market has reached the bottom of the cycle. This is
being reiterated by some of the industry analysts, such as the residex group.
We are seeing more proof that people are recognizing the current conditions as
being remarkably good. All offices are reporting strong
sales and listing activity withenquiriescontinuing
to increase on a daily basis. Despite the fact
that Tuesdays Reserve Bank meeting produced no rate cuts, we believe this is a good thing which will positively
impact the real estate market. Buyers who have been sitting on the fence up to
now to achieve the best possible interest rate will begin to be satisfied that
rates will not drop as dramatically in coming months. It is also reassuring to
know the economy has the buffer there if required. All of our offices
are reporting solid sales across the board, as February has drawn to a close we
can reflect on the market with Lagunareporting
over $10 million dollars worth of sales. The
buyer activity is on all levels, in particular up to the $1 million dollar
price bracket. There is also an increase in the number of properties coming
onto the market for sale. It’s a clear indication that confidence is returning
to the market place – sellers are meeting the market and buyers are doing their
homework and are happy to purchase, so the overall consensus is one of optimism
and recognition of the opportunities. As the consistency we are seeing
continues to build, the correct marketing combined with expert advice will
produce the desired outcomes. It’s all a part of the property cycle in motion.
We are enjoying a record number of listings here at Laguna, so the stock choice
is phenomenal. We have experts in every area who can report a number of
unsatisfied buyers wanting to purchase.
Till
next week,
Olivier