From Michael Yardney's latest newsletter (his title not mine):
I could not agree more. It is shaping up for a busy year. I've been to a number of OFIs over the last 3 week-ends and there are many more buyers than there is stock to buy - pushing up prices (the old supply/demand equation).
I'm hopeful of more stock coming onto the market in Feb/Mar, Traditionally, it does work that way as kids go back to school, people return to work from the holidays and they get down to the business of putting their property on the market.
Let's hope so for all of us who are wanting to buy
Imagine, for a moment, that it is 12 months from today. How will our property markets have fared in 2010?
It know it's customary to give a forecast at this time of year, but if there is one thing that we have learnt from the Global Financial Crisis, it is that economists and analysts are terrible at forecasting the future - they didn't see the calamity coming nor the quick recovery that followed and many economists predicted the Australian property markets would fall in a heap.
And they were wrong, as the overall property market grew strongly last year.
I could not agree more. It is shaping up for a busy year. I've been to a number of OFIs over the last 3 week-ends and there are many more buyers than there is stock to buy - pushing up prices (the old supply/demand equation).
I'm hopeful of more stock coming onto the market in Feb/Mar, Traditionally, it does work that way as kids go back to school, people return to work from the holidays and they get down to the business of putting their property on the market.
Let's hope so for all of us who are wanting to buy