Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Agents upbeat about residential market

By Staff Reporter
17 September 2009 | 1 minute read

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

Advertisement
Advertisement

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.

Agents upbeat about residential market
default
lawyersweekly logo

Tags:

Listen to other installment of the Real Estate Business Podcast

 

Do you have an industry update?

top suburbs

12 month growth
Warren
49.59%
Mullumbimby
49.48%
Waverton
49.18%
Blairgowrie
48.97%
Porepunkah
48.95%
Streaky Bay
48.89%
Bruce
48.67%
Koolewong
48.46%
Failford
48.4%
Victory Heights
48.22%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.