House Prices Show Early Signs of Stabilising

Investors could be running out of time to find a bargain, with Australian Property Monitors (APM) predicting the property market will pick up in 2012. Despite softer conditions in 2011, senior economist Andrew Wilson says the company’s quarterly House Price Report indicates better times are ahead.

“Early signs are emerging of increased first homebuyer and investor activity in most markets, albeit from a low base, that will help to encourage market activity and confidence,” Wilson says.

APM predicts Brisbane will be one of the first cities to gather momentum. Brisbane median house prices have fallen by 1.3 per cent in the June quarter and 4.9 per cent over the past 12 months. However APM says it’s unlikely there will be further drops and “buyer activity in Brisbane should increase as the reconstruction effort gathers pace, with prices starting to stabilise into 2012.”

Sydney and Melbourne also showed slightly better results over the last quarter. Prices in Sydney increased by 0.1 per cent, after falling 0.5 per cent in the previous quarter.

Melbourne house prices showed a tiny improvement too, with the median now at $554,610. “Melbourne house prices were steady over the quarter and Melbourne was one of only three capitals not to record a decline in median house prices,” Wilson says.

“Australia’s two largest capital city housing markets are exhibiting resilience, and with the exception of Darwin, the Sydney and Melbourne housing markets have proved to be the best performers over the year.”

Read more of this article here

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About davidcutlerproperty
David Cutler is a highly successful sales consultant at Gary Peer Caulfield. David provides clients with six star service customised to their individual needs. From formulating marketing strategies, through to completing contracts, he is diligent, dedicated and highly motivated to achieve the best results. His growing base of happy clients is testament to his ability to develop strong relationships based on mutual respect and integrity. When he is not busy selling property David spends quality time with his young family. And when time permits he also enjoys on and off road cycling and is an avid fan of rugby union’s Springboks.

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