Mixed signals amid optimism | The Real Estate Wrap with Leanne Pilkington
Welcome to this week’s Real Estate Wrap with Leanne Pilkington. Last week we spoke about an anecdotal improvement in the market. Pleasingly, and although a rebound in prices remain elusive, the positive signs are continuing.
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Hi everyone, Leanne Pilkington here, Managing Director of Laing+Simmons and also President of the Real Estate Institute of New South Wales for your Real Estate Wrap for the week commencing March 18th.
Saturday just gone, auction clearance rates were actually okay. They were 63.1 per cent, the prelim rate, which is pretty much about the same as it was for the same week last year, which I thought was interesting. However, volumes were low.
One of the things that is not going to change in the market anytime soon is the difficulty people are having getting finance approved.
It takes a while and the sad reality is that owner-occupiers can only get 85 per cent of what they could have had approved last year and investors about 75 per cent. So people just can’t get as much money as they could a year ago.
Anyway, for more information just click through to the link and we’ll touch base again with you next week. We will have a new State Government, I’m sure, at that time. Thanks.