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How’s the market? Stock remains tight

August 12, 2013 by editor

It is darkest during the hour before dawn and housing stock is usually at its lowest level the month before Spring. Given that the Federal Election has now been set for September 7, it is a fair call to say that the traditional Spring selling season will hold off until mid September. In turn, buyers already facing a lack of inventory will see the situation tighten even more in August.

Another interest rate cut combined with an election campaign announcement and a low level of listings, will keep the advantage with sellers, particularly in the Sydney and Melbourne market. In comparison with the Winter of 2012, the market has essentially gone from a near bust to a near boom. The market for houses below $1 million has increased about 15 percent from its low in the past 12 months.

Other indicators also suggest healthy market conditions. Time on market is now under 40 days, auction clearance rates are hovering at 80 percent, there are multiple buyers and offers per property transaction and sale prices are exceeding sellers’ expectations. The thought that the property market reacts poorly to elections has been destroyed in 2013 as the market continues to rally.

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Lower Australian Dollar to Benefit Market

August 7, 2013 by editor

Real Estate Market set to benefit from a lower AUD

The property market is rising. Record low interest rates are credited with restoring confidence in the housing sector. But low interest rates may not be the only catalyst causing the market to turn around. A lower Australian Dollar (AUD) is also helping the Australian real estate market. If its international exchange rate remains low, it should also contribute to the sustainability of the market rebound.

Whenever the currency moves decisively in one direction or another, there are winners and losers within the economy. As the AUD soared over the past three years, its impact on affected areas of the economy was widely discussed. The real estate market was negatively affected by the high AUD, but its role seemed to have been overlooked in much of the commentary.

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