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‘PRICE DROPS BRING BACK THE BUYERS’

The proportion of houses and apartments selling at auction gained momentum last weekend, with sellers showing great willingness to accept offers they would have previously rejected.

The increase is clearing a backlog of unsold homes, creating the conditions for prices to go up next year, analysts say.

Louis Christopher, an SQM Research analyst said there was clearly an increase in buyer demand, spurred by confidence following cuts in official interest rates.

‘But the clearance rate could also be telling us that sellers are more willing to meet the market’ Mr Christopher said.

‘They’ve been told by their agents that there are buyers, but the moment it is overpriced they are not interested’.

This
the properties have sold for up to 15% below the price that was being sought some twelve months earlier.

Open for Inspection

Saturday November 24, 2012

46 Great Ocean Road 12.00 – 12.30

17 Amaroo Crescent 12.30 – 1.00

3 Amaroo Crescent 1.00 – 1.30

Sunday November 25, 2012

Narani Way 11.00 – 11.45

25 Alice Street 12.30 – 1.00

19 Ridge Road 1.00 – 1.30

5 Kalbaru Drive 2.00 – 2.30

James Worssam

0418 585 815

james@greatoceanroadrealestate.com.au

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