Buyer activity has picked up in the past 10 days

Wow!  I’m really excited to be able to report that the last couple of weeks we have seen a massive increase in buyer interest.  That includes a record number of people viewing our property listings online and a huge spike in the number of potential buyers registering their interest in purchasing. Okay so that hasn’t yet translated directly into an increase in sales but at least the potential is there and it includes properties at the higher end of the market above $2 million. 

I think it shows buyers are still sitting on the fence and I anticipate they may stay perched there until after the state election.  While the outcome of the election probably isn’t going to surprise anyone it seems speculation around what a change in government might mean to the economy makes people cautious.

That said it is a very positive sign to see genuine buyers out looking and we are starting to see an increase in the number of properties under offer.  So while caution remains it appears indications from the Reserve Bank that interest rates will remain on hold, continuing strong demand in the rental market combined with news that the building sector contracted for the ninth consecutive month are all setting strong foundations for the security of property market. I’m looking forward to the months ahead.