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Market Update…

By Leslie Robins

We have seen a dramatic increase in sales activity in the last few months, if not an increase in sales prices.  There are still positive signs as price appreciation is a product of improved sales activity and a contraction of housing stock.  Current trading conditions remain volatile making any predictions for the future a very imprecise science.

As I have alluded to in all of my commentaries, the saving grace has been the resilient nature of the rental market where weekly rents have largely resisted the decline seen in house sales.  We are experiencing some of our lowest vacancy rates ever.  This should be an encouragement to potential investors, as the correction in house prices has precipitated a considerable increase in the yields for investment housing.  Whilst unemployment remains at manageable levels this situation is likely to remain.  It could be argued that the current market represents some of the best buying opportunities for both owner occupiers and investors in a very long time…

Until next time…

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