With requests for property
appraisals at an all-time high, the property market will continue to track well
into the cooler months, LJ Hooker Shelley Principal Victor Paz said.
While Winter traditionally heralds a
lull in property activity, Mr Paz said the fundamentals of record-low interest
rates and heightened buyer activity would make this season different.
“Sellers traditionally hold off
listing their properties in Winter, and wait until Spring,’’ said Victor. “But
savvy sellers will realise that buyer appetite is strongest now because of the
record-low interest rates, and they’ll want to take advantage of that buyer
competition before the Spring rush comes around.’’
The number of appraisals conducted
by the LJ Hooker network were 57% higher for the first quarter of 2014 compared
to the same period last year, with more and more sellers wanting to know what
their property could potentially fetch in an enlivened market place.
Mr Paz said the strength of the
first quarter was driven by all-time low interest rates, strong investor
activity and a recovery in consumer confidence.
“Investors and upgraders have been
focusing their attention on the property market since interest rates started
trending down in November 2011, but activity really gathered pace over the last
year.
“The demand from buyers far
outweighs the supply; we are selling properties as quickly as we list them.
“We’ve received interest from First
Home Buyers wanting to capitalise on the low interest rates and make the move
into home ownership. Interest from First Home buyers is allowing existing
buyers to upgrade.
“But we’ve also fielded a lot of
investment enquiries from the marketplace, both from self-managed super funds
looking to invest into the strong real estate market as well as from interstate
investors, and I don’t believe that will change over the next season.
“This will be one of the busiest
Winters we’ve experienced.’’
For more
information please contact:
Victor Paz
Director and
Licensee
LJ Hooker
Shelley-Willetton
0413 644 202
