The housing market bottomed in May of 2012, now property projectionists say the market is turning and is on its way up. In fact, it is anticipated that positive capital and rental yield growth is expected to drive investment demand.
Low interest rates, that keep getting lower, and housing affordability are adding to a surge in buying interest and a steady increase in sales. Of course, historically speaking, spring, which is fast approaching, is a time use sales are always hig. But, putting this seasonal cycle aside, realtor Geoff Baldwin says that this year may see other factors influence buying trends. In fact, Baldwin recommends that those who are seeking to upgrade or purchase should buy sooner, rather than later, so that they avoid paying more for their property.
Property projectionists agree that property prices in Australia won’t get any lower, and though boom conditions are highly unlikely, those who get in early are going to reap the rewards with what Mr Baldwin refers to as “significant gains.”
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Written by eChoice