Property Market Update | June
Stability is the word.
The market settled into a steady pattern with regular sales but without the hype and frenzy of a hot market. The numbers coming through the open homes is less than it was at the peak but well presented and well organised properties are still drawing good attention. There are regular buyers looking for bigger homes, smaller homes, a change of location, getting married or the opposite so there is a steady demand from these people. It is always satisfying for us to see the delight in our clients when they manage to buy a house they really want and for sellers who can move on with their plans.
Investment sales have slowed due to the loan value ratio requirements of a 40% deposit. This has reduced the number of buyers and hence opens up opportunities for established clients with good asset backing. Residential investment properties well managed are a very reliable investment vehicle and if you can build up a portfolio they are a great superannuation structure
The rental market too is stable with reduced rental levels now seeming to have settled to a level that is meeting the requirements of the market. We are finding that houses and flats are renting in a reasonable time frame but those with good heating and compliant insulation have edge on the others.
Not far from the shortest day so looking forward to increasing sunshine hours.