Property Update August 2012 | Tarragindi & Annerley

Are we there yet?

 

Didn’t you utter those words as you sat in the back seat of the unairconditioned car as Mum and Dad took you on a Sunday drive?

Do Sunday drives still exist?

 

Getting a little impatient waiting for the next best thing to happen

Actually, I’m talking about a different excursion, the one we are all a part of right now whether we like it or not. The traipse around the ‘property clock’.

 

In two recent articles from respected Independent Property Monitor, Michael Matusik, he has pointed to indicators saying that the Brisbane Market is on the turn (June 13th, 2012) and last weekend’s article (August 11th, 2012).

 

“………the fact that Brisbane, Darwin, Perth and Sydney all have fewer listings in the market compared with this time last year, is a pretty good indicator that the market is turning”.  He had noted that “New data shows that the amount of stock on the market in Brisbane fell by almost 12% in July (as compared to this time last year – as has happened in Sydney, Perth and Darwin also).”

Combining this with his personal criteria of 10 market indicators for a turning market including, for example:
multiple offers on property
offers prior to property going public
positive changes in the jobs market [(overall) employment rose by 14,000 in July (Queensland experiencing the best result for July)…..  and unemployment eased from an upwardly revised 5.3% to 5.2% – Matusik: August11th] , it seems we may be getting to the very bottom of the property clock here is Brisbane.

I have to concur that we are seeing some of these changes locally so the momentum builds for a steady crawl back to a normal rate of yearly growth. Let’s work on positivity and get those wheels turning again.