Welcome back everyone I hope you had a great break over Christmas and are ready to start a busy New Year. I was waiting a little while to write this newsletter to see one, how much stock was going to come on, two whether interest rates would fall, and now three, to see if we still had Tony Abbott as a Prime Minister.
So I can safely say that two of the three have happened, but once again we have a supply and demand problem yet once again.
There's three things that drive a property market to dizzy heights, and that's low unemployment, low interest rates and the supply and demand factor I just mentioned.
The rental market is a bit soft at present, and that's not to say properties are not renting, they are just taking a bit longer to rent, and are also renting cheaper.
With interest rates at 60 year lows people are choosing to buy rather than rent, and until interest rates climb back up, or unemployment shoots past 7 percent or both, the rental market will continue to be soft, and the property market strong.
PK's Property Market Predictions
I am yet once again predicting a very strong year in real estate because the stock levels are low and so are interest rates. And by the way I can't see interest rates going up for the whole of 2015.
If you were talking broad percentages I can see certain segments of the property market within 15kms of the city moving between 7 and 15 percent in 2015.
PK's Hot Tip
If you are feeling as though you are missing out on silent sale property, that is property not advertised to the general public you need to register with us today. We are buying property all the time that doesn't even hit the internet, so give us a call today so that we can introduce you to these silent sales.
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