Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

Reduced FHOG won’t slow sales: LJ Hooker

18 September 2009 Reporter

A shortage of housing stock teamed with low interest rates are helping to drive the property market, which is translating into more business for brokers and agents alike.

LJ Hooker business analyst David Maher told Real Estate Business that the surge in business was unlikely to ease any time soon.

“Even when the first home owners grant is pulled from the market, we expect to see sales and prices continue to enjoy moderate growth,” Mr Maher said.

According to Maher, investors are starting to view the property market as an attractive option and everyday mums and dads are also filtering in once again on the back of the ‘emergency level’ interest rates.

“We currently have very low vacancy rates which in turn stimulates higher rents and higher yields. High yields are excellent for investors who are starting to see the residential property market as a safe bet,” he said.

And with increased sales activity comes increased business for loan writers.

Real estate LJ Hooker Financial Services recorded a 26 per cent increase on loan settlement figures compared to the same time last year.

“There is a distinct correlation between loan settlements and property sales,” Mr Maher said.

“Property sales are currently 25 per cent higher than this time last year, and we expect this trend to keep improving.”

Reduced FHOG won’t slow sales: LJ Hooker
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

Where is the biggest threat to agents in 2019?

3rd party lead generation companies
DIY models discounting sales commission
Prop-tech firms cutting out the agent value proposition
A yet unidentified proper disruptor – like Uber or Airbnb
None of the above. There is no threat.
Do you have an industry update?
REAL ESTATE BUSINESS 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.