news

Opportunity beckons

By webmaster

For those Australians contemplating getting into the property market now could just be as good a time as any.


Real estate heavyweight John McGrath declared last week that 2011 would be the year of the turnaround for the Australian property market and consensus is the fundamentals underpinning the Australian markets remain – that is rising rents, a national housing shortage and an improving economy.

“In my opinion the market will gather more strength in the first half of the year particularly in metropolitan markets with a spill-over effect into regional markets in the second half of the calendar year,” Mr McGrath said last week.

Sydney, Melbourne and Canberra would continue to lead the way with strong price growth, Mr McGrath said.

“These markets, being the key national markets economically and politically, reflect Australia’s strong financial position.”

While the forecast for 2011 is strong, softer conditions now as a result of hefty interest rate rises have created a real buyer’s market.

Increasing numbers of listings, weak auction clearance rates and a softening in values have all tipped the market in favour of the buyer.

These conditions combined with expectations of a pause in rate rises until well into next year, offer a window of opportunity for aspiring buyers to make their moves before the market heats up.

National Australian Bank chief economist Alan Oster believes the cash rate will remain on hold until May next year.

“Clearly each RBA meeting will remain data dependent. That said, clear evidence of the income and investment effects of the mining boom and its inflationary potential are unlikely to be evident until mid-2011,” he said.

Opportunity beckons
SPI logo
Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.
Opps.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Location
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
BLUE BAY 49.18%
2.
PAMBULA 43.5%
3.
BERKELEY VALE 42.74%
4.
POINT PIPER 40.52%
5.
NORTH TURRAMURRA 38.12%