Newsletter
February 2010 The 2009 Property market ended with a BANG! Sales records were broken, with many new benchmarks set throughout all types of property, from studio apartments through to large family homes. This market was driven by record low interest rates, enormous government incentives and stock levels at up 40% below normal levels. All these factors translated into a very solid market place with enormous levels of enquiry and inspections and a new found resurgence within the property market, from both owner occupiers and investors alike. The rental market proved exceptionally resilient with growth in rents and record low vacancy rates. We at Northside Realtors have experienced an exceptionally strong letting market, with an unusally high level of letting and commencement of leases throughout December, historiaclly this has proven to be a slower period for leasing. We look forward to 2010 with great enthusiasm, an underlying strength in the overall economy and confidence within the property market. We anticipate a growth rate of between 4-7% over the coming year and rental returns to slowly increase as we see interest rates rise. The continued short supply of property for sale will continue as the economy becomes more robust, with more investors and home owners holding onto their property. Continued demand will remain strong and positive throughout 2010. We welcome your enquiry. Email: hello@northsiderealtors.com.au Phone: 61 2 9906 2011 |
