More Properties on Market due to change in Superannuation Rules?

[jingo]

I have been scanning realestate.com for a property to purchase in the Melbourne suburbs of Kew, Carlton North and Hawthorn recently and have noticed that there seems to be a greater number of properties on the market in these suburbs than usual. Could this be due to the new superannuation rules with investors rushing to put up to 1 million $ into their super funds before June 30?

Does anyone know or think that this presents a window of opportunity to buy a property in these markets considering the seemingly greater choice now available?

I would appreciate your thoughts.

Regards Jason

 

[topcropper]

I think it is a big factor.

Just look at all the big dividend paying stocks and property trusts! They now are not so big in dividend. I can see a nice buying opportunity for property coming up. A popular stockmarket saying is,....

***Sell in May and go away***

It has worked for a few years now.

Cheers.

 

[buzzlightyear]

Febraury/March is also a popular time (talking from a Melbourne perspective)to put your house on the market, so its not surprising there are increased inventories now.

 

[topcropper]

Something I find very surprising.

In the weekend Australian Financial Review, there is a column where they ask someone what they would do with $100 000 dollars. Generally the share people say shares, and the property people say property, as you would expect.

This time it was property guru Margaret Lomas. Her first choice was paying back the mortgage. Fair enough. Good choice. Then, her second option was to,....

"invest in an asset that historically has steady growth in most of Australia".

Thinking that this would be sensibly priced, highly geared property, I was surprised to see that she was refering to superanuation and managed funds. She then goes on about picking a good fund manager and the historic returns from them.

Maybe Margaret thinks property still has a way to go before it adds up?

See ya's.

 

[aussierogue]

its the market

This time of the year always more properties. But thats because its a good time to sell.........

This weekend there was a huge number of Auctions in Melbourne and it also bought a record clearance rate. Just down the road in Northcote there wer 12or so auctions - all sold and many of these 10 pct above reserve.

Amazing weekend in my opinion.

 

[SharonWilson]

I've heard some talk of this also - I deal with quite a few agents who are all reporting great sales numbers so I think they will be chasing the stock!