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House prices tipped to climb 20pc
Research from BIS Shrapnel suggests house prices will rise by nearly 20 per cent in the next three years. The rise would add more than $100,000 to the average house price.
According to an article in The Herald Sun, BIS Shrapnel found that house prices will rise by 3 per cent this financial year and 8 per cent in each of the following years.
The research, conducted on behalf of QBE Lenders Mortgage Insurance, said the shortage of dwellings and soaring population were combining to create the perfect environment for property investors. "Up grader and investor demand is expected to gather momentum and take over as the main drivers of the housing cycle," QBE chief executive Ian Graham said.
According to Mr Graham, recent job security fears had held many potential buyers back from entering the property market.
Economic and employment growth is forecast to continue to slow until the middle of 2010, when stronger growth is tipped to unleash a new batch of confident buyers.
Local knowledge and experience in the Noosa Hinterland is essential, both in giving you the best advice regarding price and marketing, as well as directing the greatest number of qualified buyers to your property.
Beware of the agent promising you the “high” price and giveaways. In the industry it’s called “buying a listing” and is considered the act of an unprofessional office. Soon after signing the listing forms you will be pestered to start reducing your list price and the freebies turn out to be not what you expected. In 2009, realistic pricing is the key - regardless of which selling method you choose. You should expect your real estate agent to be well equipped to advise you on marketing & price and to have a thorough knowledge of current market conditions. Knowledge of local values and market trends is vital as they do vary throughout the hinterland.
Of course there’s no harm in doing a bit of preliminary research yourself, and most sellers do. A great website to go to is realestate.com.au as it provides sale prices of properties in your street and suburb. While you are viewing properties in your suburb, observe which office has the listing at the top of the page, because that’s where your property needs to be.
There is no clearer indication of what your property is worth in the current market than comparing it directly to similar properties to yours which have recently sold.
If you would like specific advise on what your property may be worth, please contact us for an appraisal or a comparable market analysis report.