Property market's good weekendAndrew WestAugust 10, 2009
PROPERTY analysts are predicting continued recovery in the real estatemarket after a weekend of strong sales but warn that changes to the FederalGovernment's first-home buyers grant and the prospect of rising interest ratesmay slow demand.
Australian Property Monitors reported that 248 properties were up forauction in Sydney at the weekend -the same number that were on the block exactly a year ago.
APM, which is owned by Fairfax Media, publisher of the Herald, alsorecorded a clearance rate of 69.3 per cent, compared with just 47.5 per cent 12months ago. The weekend's listings were also up 15 per cent on the previousweekend, when 205 Sydney propertieswere listed for auction with a clearance rate of 67 per cent.
These figures suggest to analysts that the market may have rebounded towhere it was before the worst storms of the global financial crisis hit lastyear.
''This time last year, things were very uncertain,'' APM's head of research,Yvonne Chan, said. ''Whereas now, the Australian stockmarket is up dramaticallyand interest rates are at an all-time low and confidence keeps getting better.
''All of these factors and variables indicate the global financial crisismay well be over. But I must emphasise the words 'may be'.''
The Reserve Bank's cash rate is currently 3 per cent.
There was also a big jump in the value of properties sold. Sales at theweekend were worth $96.5 million, compared with $74.4 million the previous weekand $70.4 million for the same time the previous year. The most expensiveproperty - a five-bedroom house in Strathfield - went for $3.7 million; thecheapest, a two-bedroom unit in Mount Druitt, went for $190,000.
In Melbourne, Ms Chan said, thefigures were even stronger, with clearance rates at a 12-month high of 87 percent.
But she also cautioned that the rise in listings and sales may also beseasonal, adding: ''Historically, home owners like to sell in the spring.''
The Real Estate Institute of NSW also said the figures pointed to improvedconditions. ''The official data for house prices is showing there is somereturn to the market,'' said the institute's spokesman, Julian Brophy.
But the real estate industry is also concerned the market may flatline oreven fall in 2010 if interest rates climb, as analysts predicted last week, andas the Federal Government reduces the first-home buyers' grant in the lastquarter of this year.作者: 想念天空 时间: 11-8-2009 19:25
是的。我也发现最近bunnings生意很好。作者: hsqhugh 时间: 11-8-2009 23:07
同感。现在约个做装修的，可难了