2011 continues to be a challenging property market but one which is showing signs of an improved level of activity.
The suburbs continue to see sales with family houses selling within a reasonable timescale. These sales are largely driven by families looking to move into the catchment areas for both primary and secondary schools.
Both buyers and sellers have regained confidence in the market. People do still want to or indeed require to move home and therefore there is always activity in the market place.
We have seen a return of parents buying for children or indeed assisting again with the deposit required.
The first time buyers sector continues to be slow due to the level of deposits now needed.
In the current marketplace most residential properties are advertised for sale at a price in line with the Home Report valuation and sell at or around this figure. We have seen a return of the closing date but this is not across the market. However, it emphasises that the market is improving.
Given the current economic climate, some sellers opt to hold off on buying until the sale is legally binding, or in some cases until it actually completes and the proceeds are safely deposited in their bank account.
There are more properties for sale than there are buyers, therefore when selling you have to be ahead of the competition with your marketing campaign and presentation of your property.