Con­fi­dence is on the im­prove

An an­nual sur­vey of REIQ-ac­cred­ited agents re­veals ac­tiv­ity is in­creas­ing in key mar­kets, with a con­fi­dent out­look for the years to come

The Courier-Mail - Property - - REALESTATE MARKET OUTLOOK -

AT THE end of June, the REIQ car­ried out its an­nual sales mar­ket sur­vey to gain on-the­ground mar­ket trends from our ac­cred­ited agents.

We can all look at sales sta­tis­tics un­til the cows come home, but what sets the REIQ apart is its abil­ity to tap into the knowl­edge base of its mem­bers.

It’s what en­ables us as Queens­land’s peak pro­fes­sional body to keep abreast of what is re­ally hap­pen­ing in the state’s prop­erty mar­kets.

Af­ter all, real es­tate agents know bet­ter than all the data re­ports we can run what the cur­rent trends are.

It’s now well-known ac­tiv­ity is in­creas­ing in key south­east Queens­land prop­erty mar­kets.

REIQ agents con­firm buy­ers are be­com­ing more com­mit­ted, and we’re see­ing shorter days on mar­ket and lower list­ing num­bers.

The ab­sorp­tion of list­ings is also said to be fur­ther com­pounded by some ven­dors hold­ing off from list­ing prop­erty in the hope the mar­ket will im­prove fur­ther.

In the most buoy­ant mar­kets, REIQ-ac­cred­ited agents tell us they are very much in need of more list­ings as buyer de­mand strengthens.

Across the state, a key theme be­ing re­ported by REIQac­cred­ited mem­bers is softer mar­ket con­di­tions fol­low­ing the re­lease of the fed­eral and state bud­gets.

The neg­a­tive press sur­round­ing the bud­gets put an im­me­di­ate dint in con­sumer con­fi­dence, as mea­sured by ANZ-Roy Mor­gan.

REIQ mem­bers also re­ported cau­tion among both buy­ers and sell­ers.

Ac­cord­ing to many, the busi­ness sec­tor, in par­tic­u­lar, un­der­stands hard de­ci­sions had to be made by the govern­ment, but at the same time, there are a num­ber of ma­jor in­fra­struc­ture projects to be funded, which is con­tribut­ing to the pos­i­tive out­look for many re­gions across the state.

As the weeks have gone by since the bud­get re­leases, con­fi­dence has slowly re­turned, and more than half of REIQ mem­bers sur­veyed have a pos­i­tive out­look for the re­main­der of 2014, as well as for the fol­low­ing cal­en­dar year.

The most pos­i­tive re­gion is Toowoomba, with 100 per cent of agents sur­veyed very pos­i­tive about the rest of 2014 and also with 2015.

With a num­ber of key ma­jor in­fra­struc­ture projects go­ing ahead in the re­gion, it’s lit­tle won­der home buy­ers and in­vestors have in­creas­ing con­fi­dence in the Toowoomba prop­erty mar­ket.

The sec­ond most pos­i­tive re­gion was the Gold Coast, where 56 per cent of REIQ agents sur­veyed were pos­i­tive about the rest of 2014.

For 2015, how­ever, 56 per cent felt the mar­ket would be sta­ble and 44 per cent had a pos­i­tive out­look.

And, while some of re­gional Queens­land’s prop­erty mar­kets are go­ing through sub­dued mar­ket con­di­tions, the out­look is set to im­prove.

While 19 per cent of agents sur­veyed felt the rest of 2014 wasn’t look­ing very good, 33 per cent were pos­i­tive.

And in 2015, this level of op­ti­mism is vastly im­proved, with 62 per cent of agents say­ing 2015 would bring bet­ter con­di­tions to their real es­tate mar­kets.

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