Market Trends Property listings volumes are expected to hold their current levels (44 per cent), with some members saying they may actually increase (39 per cent). Western Australia has the greatest proportion of members who believe property listings will not increase, followed closely by South Australia and Queensland. Victoria has the most members who expected property listings would increase. According to our members, the key market indicator, Days on Market (DOM) is showing signs of stabilisation, or improvement, led by Queensland, then Victoria and NSW/ACT. Across the nation, members are evenly split on whether they will fall or remain steady (49 per cent for each). Although Hobart is currently the country’s slowest market, taking 84 days to sell a house, Sydney has moved into pole position, taking just 35 days on average. A change in government is expected to have a positive impact on the property market, according to 81 per cent of our members. This is primarily because with the change, confidence will be strengthened, especially if fiscal management improves.
12
First National Real Estate | 2013 Property Market Outlook Mid Year Update