The second week in July has shown a continued elevation of activity on both the buying and selling side of the transaction. Listing and sales volumes are both ahead of the same period as last year at 21% and 27% respectively.
Many market commentators are now revising their previous predictions for a downturn in residential property and have had to acknowledge the fact that all of the data is pointing to not only stability, but in some markets heightened levels of activity.
As the evidence continues to mount, the obvious question is “where to next?” and while it is difficult in the current environment to predict where the market may be in a few months time, it is abundantly clear that right now, the conditions are favourable on both sides of the transaction.
Several factors are underpinning market confidence, with historically low interest rates being offered to home loan borrowers, open home attendance and registered auction bidders; one should also pay notice to the general public sentiment around a day to day life that feels ‘back to normal’ for many - especially when compared to those overseas.
