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top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Reduced FHOG won’t slow sales: LJ Hooker

By Staff Reporter
18 September 2009 | 1 minute read

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
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
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.