The housing market in Australia is finally emerging from the last vestiges of the global financial crisis. According to SQM Research, residential property listings decreased slightly in January. Across Australia, property listings have declined by approximately 3% since January of last year. When listings decrease, it is because buying has increased. SQM Managing Director of Research, Louis Christopher, cites a series of interest rate cuts since 2012 as the impetus for a burgeoning housing market recovery.
The latest home value index released by RP Data indicates that home values are also headed toward recovery. Since reaching a low point in May 2012, the value of dwellings across the combined capital cities made an improvement of 3.1% to January 2013. Tim Lawless, Research Director for RP Data, is encouraged by what he considers to be a strong start for the market in 2013.
The announcement that there will be an election on 14th September has caused some disagreement among various industry experts. While some believe it will hurt the market and create uncertainty, some believe it will help the market and create stability.
The bottom line is that no one can predict the future. However, we feel very confident in stating that we can help you gain progress toward your financial goals in the coming year.
If you are planning to review your mortgage or buy a new home, please call us today for a free consultation.
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