News & Blog
Jan 27, 2015 at 11:21 am | 0 Comments
2015 is already here and to speculate what this year means of property enthusiasts and custom home builders in Australia, a crisp analysis of past and current conditions of the economy and property market is done here.
Australian economy is growing but not so fast. However, the good news for property owners and potential property buyers is that the rate of interest will continue to stay low in 2015. Some forecasters predicted that the rates will even drop further!
Apart from this, real estate industry and extension builders in Australia is an upswing. For Melbourne and Sydney, 2014 was a great year and prices continue to rise these two cities in 2015 as well. For the rest of the Australian cities, 2015 will be even better than 2014.
What’s the scope for buyers, sellers, investors and renters 2015 holds?
- For Buyers
With limited properties available for sale, the competition for the properties that are on the market has increased manifolds. If you want to buy a property in 2015, go to your financial broker or the bank before you start your hunt for the right property. It will help you to have a fair idea of your borrowing capacity so that you can bid or make an offer without any compromise.
- For Sellers
2015 could be a promising and fruitful year if you are planning to sell a property. Since the number of available properties is already low, the price of your property will see the boost. Also, think of selling it in the ending months of this year because the property prices are higher at the end than the start of the year. However, you could receive best offer in the initial few weeks & if it is within your satisfactory range, take it.
- For Investors
Interest rates are going to stay low or may go down further, that’s the motivating news for investors in Australia. If you haven’t planned for an investment property, speak with your mortgage broker and consider it on a serious note.
- For Renters
If you are thinking to buy a property to rent and that too in the initial months of 2015, join the queue. The rental market is on a high rise wave and will be at its peak from mid-January to late February. Additionally, you can expect rents and vacancy rates to go steady starting from March.