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Despite a turbulent few months, recent market sentiment has indicated a growing level of confidence among first home buyers and investors.
Speaking on REB’s Secrets of the Top 100 Agents podcast, Tracey Dixon from McGrath Hunters Hill said recent developments within the Australian marketplace have led to an increase in buyer confidence.
“We’ve certainly seen that stability come back to the marketplace. We’ve seen the buyer confidence come back,” Ms Dixon said.
“With the election now over, the results in and the confidence in the current government, that really do[es] support home ownership, [along with] a couple of interest rate cuts again and potentially another one very soon.
“Money is cheap and it’s the cheapest it’s ever been, so we are seeing investors re-approach their banks and say what they can do in regard to buying back into property.”
High clearance rates among the eastern seaboard are another factor driving buyer confidence higher.
“Very strong clearance rates at auctions also brings buyer confidence back in the market,” Ms Dixon said.
“[In addition,] first time buyers have stopped playing their games. They are now confident, they are now making strong offers, and they’re seeing the positivity and seeing that the investors are coming back as well, and they’ll be now in a position to make offers when a good property comes up that they like that’s in their price range.
“They’re no longer hesitant to actually make offers any more, thinking that there’s going to be a further decline in the market. They are actually putting forward good, strong offers, which is great.”
