Ensure you never miss an issue of the
real estate business bulletin
Buyers look towards higher priced properties

Buyers look towards higher priced properties

by Reporter 0 comments

Market confidence for higher priced properties is starting to rebound, according to RP Data’s latest property figures.

In the first part of 2009, most of the buyer activity was taking place in the lower and more affordable end of the property price spectrum, however, the tables are starting to turn as investors start to filter back into the market.

RP Data’s research analyst Cameron Kusher said in the first quarter of 2009, 58.7 per cent of all property sales were under $400,000.However, by the end of the third quarter this price range only accounted for 51.5 per cent of all sales.

“Similarly, during the first quarter of 2009 more than 60 per cent of all capital city unit sales occurred at prices below $400,000, but by the third quarter these price points accounted for slightly more than half of all sales,” Mr Kusher said.

“Sales of units priced at, or in excess of $1 million, held a greater market share than either of the price points between $800,000 and $1 million during all three quarters.”

According to Mr Kusher, this change in market activity can be attributed to the improvement in buyer confidence among investors and non-first home buyers.

“This is a trend that is likely to continue into 2010 where we expect fewer first home buyers and more investors/upgraders to be active in the market. The premium markets have already started to outpace the broader market in terms of price growth as demand for these properties improves,” he said.

le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
Buyers look towards higher priced properties
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?