Real estate agents are cautiously optimistic about the future, a new survey has found.
According to a new survey by Australian Property Monitors, the majority of real estate agents expect to see uplift in activity across all the capital cities throughout 2011.
"Early signs of stabilisation and recovery are emerging particularly in the Sydney market. Melbourne is showing some resilience in what was expected to be a quiet period for that city," APM senior economist Andrew Wilson said.
"Brisbane is the big surprise with reasonable levels of buying activity despite the damaging effects of the January floods. The Perth housing market however remains quiet with indications that buyer sentiment in that city is still flat."
"The high number of properties for sale in other cities indicates a continued stock hangover from the low buyer activity levels that ended 2010."
According to Mr Wilson, the mid-price and low price segments of the market remain strongest in Sydney and Melbourne, with some activity being reported in the high price segment for both the Perth and Brisbane housing markets.