Market Trends Residential The residential market is expected to continue its trend of steady and gradual improvement. According to the vast majority of our members (93 per cent), the market has steadied or risen It is generally expected the market will improve, with only a small percentage of members anticipating any further deterioration, mainly in Queensland and Western Australia. While 70 per cent of members believe the market has turned, most of the remaining 30 per cent believe it will do so by the end of the year. Market improvements are expected to be due to investors returning to the market, improving confidence, supply and demand ratios and a change of government. Market declines will result primarily from the downturn in the mining industry, although these could be tempered by improving coal and gas commodity prices. Sales are also anticipated to improve in the coming six months, with 67 per cent of members saying they would increase and 28 per cent saying they would hold at current levels. Even though there is currently strong affordability, our members say there is more required to improve confidence and get transaction volumes back to more normal levels: } Economic stability } Stronger consumer sentiment } Improved business confidence } Better fiscal management of Australia’s economy
2013 Property Market Outlook Mid Year Update | First National Real Estate
11