A recent blog by Brisbane commentator and property reseacher, Michael Matusik makes interesting reading for those looking for signs that the property market is indeed making a turn for the better. Matusik’s “3 good signs” of a property market improving comments on the impact firstly that sellers are not finding the need to discount asking prices to anything like late 2011 levels. Discounting at a more modest 5% is becoming the norm.
The second point made is that residential listings numbers are declining across the country with South East Queensland declining 10% since April 2011. Law Property Australia has received similar anecdotal reports from local agents.
The final key issue is that the market has experienced its third consecutive quarter of positive growth in confidence according to the PCA-ANZ index.
The signs certainly point to an improvement in the market, particularly with interest rates set to drop even further.