it's congruent with an email an agent sent me during the week....This was posted today by a member on another property forum I frequent.
Can't vouch for authenticity but it's an interesting story...
Gordon has noticed the first signs that the real estate market in the Western Suburbs is picking up.
1. The number of potential buyers coming to home opens or enquiring has doubled or trebled this month over previous months.
2. Turnover of properties has improved by 30% to 50% over three years ago. The reasons seem to be:
a) Sellers adjusting their price expectations downwards to meet the market.
b) Much cheaper costs of mortgage money.
c) Slowly improving confidence in the future of the economy