Agents upbeat about residential market

Agents upbeat about residential market

by 0 comments

Real estate agents are upbeat about the outlook for the residential sector, the Australian Property Institute’s (API) latest survey has found.

According to the Australian Property Direction Survey, sentiment for the sector was up on the previous survey, conducted six months earlier, which reported a dramatic fall in sentiment.

The survey found that residential property was on the road to recovery and any upswing would continue to be felt well into 2011.

“Sydney and Melbourne are already seen as being on the upswing and will be joined by Brisbane in 2010,” API NSW president Richard Hecek said.

While the nation’s residential property market has remained resilient through the worst part of the downturn, thanks to low interest rates and government assistance, 70 per cent of the survey’s respondents said they expect the sub $500,000 category to suffer once the first home owners grant ends.

Moreover, the survey respondents felt as though any downturn in the sub $500,000 property sector would have an impact on the broader economy.

Real estate agents are upbeat about the outlook for the residential sector, the Australian Property Institute’s (API) latest survey has found.

According to the Australian Property Direction Survey, sentiment for the sector was up on the previous survey, conducted six months earlier, which reported a dramatic fall in sentiment.

The survey found that residential property was on the road to recovery and any upswing would continue to be felt well into 2011.

“Sydney and Melbourne are already seen as being on the upswing and will be joined by Brisbane in 2010,” API NSW president Richard Hecek said.

While the nation’s residential property market has remained resilient through the worst part of the downturn, thanks to low interest rates and government assistance, 70 per cent of the survey’s respondents said they expect the sub $500,000 category to suffer once the first home owners grant ends.

Moreover, the survey respondents felt as though any downturn in the sub $500,000 property sector would have an impact on the broader economy.

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

With a combined sales volume of over $14 billion in 2017, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
How this agent grew his database by 50% in five years

In this episode of Secrets of the Top 100 Agents, Robert Pignataro joins host Tim Neary to explain how he increased his personal database by...

View all podcasts

Does the benefit of being part of a branded group outweigh the cost?

Yes
No
Depends on the group
Do you have an industry update?