In the final instalment of a three-part series, we have asked some of our top brokers from around the country in February 2012 what their predictions are for the rest of the year in their local areas.
Ron Lloyd, owner of Aussie Toukley
Toukley is comprised of many first home buyer type properties and investment properties. For this reason we expected January to be very quiet with little if any inquiries. However, while it’s still very early days, we are receiving a good number of inquiries. This tells me we will be in for a busy year.
As for the property market, in speaking with local agents, the general perception is the first home buyer changes will have little effect on the sales numbers. The agents I have spoken with are very optimistic about the coming year.
Tom Mewing, owner of Aussie Chapel Hill
I have noticed a definite pick up in buyer activity since the last cuts. Our volumes have doubled in the last four months and after the usual quiet start to January this week has seen high enquiry at our office.
Reading the press it looks like rates will be cut a further two times in the next six months and this should see investors come back into our market as yields become more attractive for them. Rents have been rising in the area and clients have advised that it is very difficult to get rental accommodation. At one property a person walked in, gave the agent $100 and said he would pay six months’ rent upfront to secure it.
The main issue with rates is the tug of war between Europe which is in a ‘little’ trouble, our struggling housing and retail sectors Versus our economy which is doing ok with its booming mining sector and trading partners which are going at full steam. Dependant on key data, I would say we will get two more back to back rate cuts in February & March which should end this cutting cycling that started late last year.
Brad Robson, Real Estate agent in the western suburbs of Brisbane since 2003
After a pretty average year in 2011, it won’t take much for 2012 to be better.
There is a huge amount of commentary around Real estate and unfortunately, my crystal ball is no better than yours (I didn’t predict the flood either).
I may have a little insider information however any statistician will tell you that only a fool bases future expectations on past statistics. But just for fun, let’s look at what’s been happening recently in the residential property market.
Most agents in Brisbane (the ones that I am speaking with anyway) will tell you that they had a really good end to 2011 with enquiry picking up, auction clearance rates.
2012 has started out the same way. I have noticed a sizable increase in website traffic, email enquiry, feet through the doors at my opens and sales – yes that’s right, sales are happening!
So I’m starting 2012 with a forecast of optimism, after all, it’s more fun to be happy and optimistic then the opposite and that’s a good enough reason for me to predict that 2012 is going to be a better year.