Agents can expect to see an increase in business volumes over the coming months, with buyer and seller activity expected to pick up early next year.
Speaking to Real Estate Business, RP Data’s chief executive Graham Mirabito said the traditionally hot spring selling season will not provide the same results many agents have come to expect over the years.
“Consumer confidence has been really low for the past few months, which hasn’t helped generate buyer activity,” Mr Mirabito said.
However, RP Data research has found consumer confidence had a modest increase in September, which could carry through to a spike in buyer and seller activity for early 2012.
“We saw a correction in consumer confidence in September,” Mr Mirabito said.
“If this becomes a trend and consumer confidence continues to improve, then February and March could prove to be a really good time for property – we could see a definite pickup in activity.”