It just get's better and better
With auction clearance rates over the last three weeks being over 70% there is no doubt we are heading into the next property boom. March for us has been a sensational month and looks like April is going to kick on to be the best on record.
I think one of the main things other than low interest rates, is that for the first time my clients are wanting to move sooner rather than later in an election year. Without getting political, and going on feedback that I am getting from people engaging us is that they believe the labour government hasn't got any hope in getting in, so why wait to see what happens before we buy.
This is the first time in over 20 years in real estate that I believe there won't even be a slow down before an election because everyone is pretty sure who is going to get in.
PK's Property Market Predictions
The prestige market is still a little patchy but firming up slowly, whereas anything up to $1Mil is flying out the door. Stock is still very tight and I don't believe that is going to get any better until spring 2013.
Rents will start to back off a bit and capital gains will start to kick in as the property cycle enters a new upward phase.
PK's Hot Tip
If you are thinking of buying, especially upgrading, this is the time to do it. Vendors are still a little soft around the ears, but are starting to get firmer on what they will take, and what they won't, as the market gets stronger.
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