Friday, May 01, 2009

RP Data’s Property Value Indices Report is possibly the best of all the reports we receive. This report is a must read jf you are following the property market and trends.

Note the blow out in days on market for Sth Aust. 81 Days to sell on average and a fall of 0.3% in prices compared to a turn around in Sydney and Melbourne. These figures actually reflect what occurred in the last quarter of 2008, and I am predicting another softening of prices in spring 2009, but for now it is ALL GO! Toop&Toop have experienced a terrific February, March and April in both volumes of sales and we have seen stability in prices. As reported in the previous InsideStory article due for publication Saturday (ist May), the decision by the Feds on the first home stimulus extension will impact on the second half of 2009. The first home activity has created the fire under the market with activity stimulated through the entire market.

Spring is a period I would avoid selling if you have a choice….winter 2009 I think will prove to be a great time for property sellers as supply will be low and demand is good. I encourage sellers to move now, the more sales brought forward the less the risk of a collapse like occurred last year in the spring market.

This report is a great read.

RP DATA Indices Report (April 2009) (PDF)

Anthony Toop, Managing Director.

© Toop Real Estate Group

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