Christmas activity expected to surge

Although traditionally seen as a quiet period, new data suggests the Christmas season may have significant activity.

According to RP Data’s national research director Tim Lawless, relatively low interest rates, government stimulus and a booming property market have all combined to make the lead up to Christmas very busy.

Mr Lawless said the second last week of the year would see a jump in the number of properties sold as buyers will look to finalise contracts prior to Christmas leave.

By contrast, he said January would be much more subdued, with virtually no sales expected to occur in the first or second week of the year.

“Looking at sales activity generally, the Australian property market fared well during 2009 with most capital cities enjoying a rise in values exceeding previous peaks,” Mr Lawless said.

“Moreover, monthly volumes during 2009 averaged 55,000 sales each month, a 27.5 per cent improvement from the 08 August low.

“Sales volumes will continue to be upbeat despite interest rate rises and the winding back of the government stimulus. We expect that investors and upgrader numbers will continue to improve and provide some balance to the prospect of fewer first home buyers.”

Although traditionally seen as a quiet period, new data suggests the Christmas season may have significant activity.

According to RP Data’s national research director Tim Lawless, relatively low interest rates, government stimulus and a booming property market have all combined to make the lead up to Christmas very busy.

Mr Lawless said the second last week of the year would see a jump in the number of properties sold as buyers will look to finalise contracts prior to Christmas leave.

By contrast, he said January would be much more subdued, with virtually no sales expected to occur in the first or second week of the year.

“Looking at sales activity generally, the Australian property market fared well during 2009 with most capital cities enjoying a rise in values exceeding previous peaks,” Mr Lawless said.

“Moreover, monthly volumes during 2009 averaged 55,000 sales each month, a 27.5 per cent improvement from the 08 August low.

“Sales volumes will continue to be upbeat despite interest rate rises and the winding back of the government stimulus. We expect that investors and upgrader numbers will continue to improve and provide some balance to the prospect of fewer first home buyers.”

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