Market Wrap - March 2015
31 March 2015 Symon Badenoch
There has been much debate around the effect that Mr Fluffy home owners are having on the ACT sales market. I was recently interviewed by the ABC on this topic http://www.abc.net.au/news/2015-03-19/mr-fluffy-homeowners-create-stiff-housing-competition/6333144
Whilst I indicated that Mr Fluffy home owners are now beginning to re-buy and putting added demand on specific suburbs and property types, a number of other factors also appear to be contributing to the overall strengthening housing market. These factors include long-term low interest rates, buyers moving away from new stock looking for established homes, and investors moving away from apartments and buying land.
Those who have read my previous newsletters would know that this trend begin last year well before Mr Fluffy home owners began re-buying. This increase in demand has not spread through to the apartment market as yet, however the enquiry rate on apartments is the strongest we have seen for the last 12 months.
March was one of our strongest sales month for a few years with our team selling more on an individual head to head basis than most agents in the region. I expect that we will see a short supply in properties available for sale in the coming months as we head into Winter, so I feel that Winter might be a great time to sell this year.
If you wish to discuss the rental or sales market in more detail feel free to contact our team as we are more than happy to assist,