CITY loft-style apartments, beachfront huts, sprawling ranches and even run-down fibro cottages are in vogue.
Real estate agents across NSW are breathing a little easier as both investors and homebuyers confidently stride back into the property market they seemingly abandoned a year ago, The Daily Telegraph reports.
Back then agents blamed the global financial crisis for cautious buyers shying away from bidding in auctions. On Saturday, October 25 last year, just 39.6 per cent of the 189 homes which were put up for auction sold.
And sales continued to plunge in 2009, with just 55 properties put on the auction block for the entire month of January.
Almost a year on from that deserted weekend, there are up to 400 homes on auction each week. Clearance rates are balancing out at 75 per cent, back to a total value of $1251.7 million in September.
Economists believe it will get even better, with BIS Shrapnel experts forecasting Sydney property values will appreciate 10.9 per cent over the next three years.
RP Data national research director Tim Lawless said rents were strong and auctions buoyant despite rising interest rates.
"It is certainly a difficult time to be a forecaster and it will be interesting to see how their predictions pan out," Mr Lawless said.
Australian Property Monitors Yvonne Chan said at least 304 properties were scheduled for auction this weekend in Sydney alone.
Real estate agents in the field said property was back in fashion as investors shun the share market.
"They don't want to go into super, not shares and are moving back to property," said Marshall and Tacheci Real Estate Bermagui principal Robert Tacheci.
For some, the proof is in the figures, with LJ Hooker Double Bay sales executive Ryan Watsford selling $19 million worth of property over the past two months.
"Confidence is definitely on the mend," he said.
Read more ...
Jenny
Real estate agents across NSW are breathing a little easier as both investors and homebuyers confidently stride back into the property market they seemingly abandoned a year ago, The Daily Telegraph reports.
Back then agents blamed the global financial crisis for cautious buyers shying away from bidding in auctions. On Saturday, October 25 last year, just 39.6 per cent of the 189 homes which were put up for auction sold.
And sales continued to plunge in 2009, with just 55 properties put on the auction block for the entire month of January.
Almost a year on from that deserted weekend, there are up to 400 homes on auction each week. Clearance rates are balancing out at 75 per cent, back to a total value of $1251.7 million in September.
Economists believe it will get even better, with BIS Shrapnel experts forecasting Sydney property values will appreciate 10.9 per cent over the next three years.
RP Data national research director Tim Lawless said rents were strong and auctions buoyant despite rising interest rates.
"It is certainly a difficult time to be a forecaster and it will be interesting to see how their predictions pan out," Mr Lawless said.
Australian Property Monitors Yvonne Chan said at least 304 properties were scheduled for auction this weekend in Sydney alone.
Real estate agents in the field said property was back in fashion as investors shun the share market.
"They don't want to go into super, not shares and are moving back to property," said Marshall and Tacheci Real Estate Bermagui principal Robert Tacheci.
For some, the proof is in the figures, with LJ Hooker Double Bay sales executive Ryan Watsford selling $19 million worth of property over the past two months.
"Confidence is definitely on the mend," he said.
Read more ...
Jenny