Ipswich agents say real estate is on the rise

Calibre Real Estate’s own features in Queensland Times news article. See the more below.

 

IPSWICH real estate agents have made their forecast for the local property market in 2014, and they like what they see in their crystal ball.

The bottom line is that it is all blue skies ahead.

The consensus is that the market has picked up since the change of Federal Government in September of last year, that investors have returned to the market and that prices are on the way up, because of strong buyer demand and limited available stock.

Calibre Real Estate’s Ben Walker said several factors pointed towards house price increases.

“Based on what has happened since the federal election, and on activity in the last quarter of 2013, I am expecting a good year, and a lot of others are,” he said.

“It is cheaper in some cases to buy than it is to rent at the moment, and when that happens, prices historically tend to rise.

“There is not much on the market, so demand is high and supply is low. Everything points to prices increasing.

“Confidence is a big thing in this game, and in the last quarter of the year it was on the rise too. Christmas has probably interrupted us a little bit, but there was a good run leading into Christmas, so it should be good again in January.”

PRD Nationwide’s Helene Shephard said December, last year had been “a great month” in real estate and she expected that to continue.

“It is the strongest market we have seen in some years. I really believe you will see a lack of properties for sale. The ones that are selling will be selling quite quickly,” she said.

“There is a shortfall in available stock at the moment and when that happens the lower end of the market sells quite quickly, which drives prices up.

“For a seller’s market, I think they will be pleased. For a buyer’s market, I think they will understand that if they don’t act quickly they will miss the market as it continues to climb.

“So we are very excited about 2014. At the moment I think it is a buyer’s market, but I don’t think that will last very long.”

Ms Shephard said investors were active in the market and looking for secure properties with a high rental return.

“When investors return to the market, it means they are more confident in the real estate market than what is happening on the stock market, or with superannuation.

“The government change has had an influence and interest rates are the lowest in 53 years. I believe prices have found their bottom line. The investors are going, ‘Okay, everything is lining up. The prices are good, the returns are good, the interest rates are good. Lock those interest rates in and sit back and enjoy the next five to seven years’.”

 

Sourced: http://www.qt.com.au/news/real-estate-is-on-the-rise/2131175/

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