The Buyers are out in Gosford and surrounding suburbs

Posted on 19 February 2010

February has proved to be another fantastic month in the real estate market and with autumn fast approaching our sales expectations is that the market will remain strong.

2009 turned out to be an impressive year given the circumstances, the first home buyers grant increased property sales with many high prices being achieved. The average days on the market were cut in half and property owners were obtaining top dollar from the first home buyer market, some well above the asking price.

We have entered 2010 with confidence. The market is strong and since we have come back from Christmas there is an abundance of purchasers waiting to get into the market in the Gosford Shire. Suburbs such as Wyoming, Narara, Niagara Park, North Gosford and Kariong are seeing a huge influx of investors and first home buyers. The government boost has now been reduced to $7,000 as of the 1st January, interest rates are still low and providing the property is priced right – they are selling. Obviously it is an excellent time to buy and take advantage of the capital growth and rental demands that will further emerge this year.

Our population continues to grow creating an enormous demand for rental properties. The current vacancy factor is approximately 1.6% apposed to 2.3% this time last year. There is definitely a shortage of rental supply and our landlords in most circumstances have a pick of 2-3 quality tenants. It is nice to see investors back in the property market…..They are returning with confidence.

Our agency has a shortage of properties in the first home buyers bracket – there is great demand for properties under $350,000 which is creating competition and demand in these price ranges.

The days of seasonal buying seems to have disappeared some time ago. Our market remains steady – the whole year through. Genuine buyers don’t stop looking for a property if its boiling hot, freezing cold or pouring with rain. The whether or season no longer has an impact from the buying market that it has in past years. Yes, economic conditions can slow and fasten a market but the season no longer has an impact.

Strike while the marketplace is still strong, If you are thinking of selling/ or buying anytime soon my recommendation is to do so as soon as possible.

PROPERTY CURRENTLY LISTED IN AREA

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Kylee Jones
Hinterland Real Estate
Ph: 02 4322 7233 Mob 0414 226 533
email: kyleej@hinterlandre.com.au

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