The number of days it takes to sell a property and the reduction needed from the initial asking price is an excellent indicator of market health. First National members are reporting that the market is moving faster and that buyers are becoming more decisive.
With the advent of social media, Skype and improved Internet services enabling more workers to work from home, are the days of the traditional office space numbered?
Equally pleasing is news that the total price reduction required to sell a property is trending down throughout the capitals. RP Data confirms that 6.4% is the average discount vendors were accepting from their asking price across our capital cities in January. This figure is down from 7.2% in the same period last year.
Recent research from RP Data reveals Australian homeowners are staying in their houses for an average of 9.3 years.
Reserve Bank assistant governor, Philip Lowe, says there is evidence that reduced cash rates are helping to lift property values and confidence in the housing market.
While much has been made of rising rents and limited vacancies, the rate of growth in weekly rents is certainly slowing.
First National Real Estate is pleased to confirm the expansion of its network of offices in Melbourne’s North Western suburbs.
There’s now little doubt that predictions of a 2013 market recovery are bearing evidence in the marketplace. Auction clearance rates have improved and buyer activity has lifted significantly, right across First National’s network of over 450 offices. Upgraders are out… Read More ›
Victoria’s subdued property market is expected to rebound, after reaching the bottom of the property cycle in the first half of 2013, building on the improving trend of the last six months of 2012 according to the First National Real Estate 2013 Property Market Outlook.
Vendors were able to sell their properties in July without discounting as steeply as they did in June in most capitals, according to data released by Australian Property Monitors last week.
