Century 21 Port Douglas part of the largest real estate sales organisation in the Asia Pacific region, believes that Australia’s residential property market is presenting some strong purchase opportunities for prospective buyers.
“We are seeing a number of factors combine to make the national housing market a relatively attractive buying environment at present,” said Chairman and Owner of Century 21 Australasia, Charles Tarbey.
“Interest rates remain at historic lows, national stock levels have trended upwards over recent weeks and auction clearance rates are robust in several markets. “In particular, there appear to be strong buying opportunities in discretionary spending areas where prices haven’t quite picked up yet, and at the top end of the market where price growth is generally heavily influenced by economic conditions and the success of high-net-worth individuals.”
The most recent RP Data Buy vs Rent report found that there were 692 suburbs across Australia where it was cheaper to pay a mortgage than a rental lease – a 286.6 per cent increase from the corresponding period in 2012.
“For buyers who are willing to step off the sidelines, there could be an opportunity to make some very fortuitous purchase decisions – provided that they can locate good quality stock in the right areas,” concluded Charles Tarbey.
Century 21 Port Douglas Real Estate encourages prospective buyers that are looking to purchase real estate to ensure they have obtained the appropriate professional property and finance advice before doing so.
“It is wise that buyers have a firm idea about their property buying budget before they embark on house hunting, this will avoid disappointment down the track” says Phil Holloway – Principal of Century 21 Port Douglas Real Estate.
The Principal of Century 21 Port Douglas goes on to say that “Many financial brokers and institutions can assist buyers by conducting a certified valuation on a property they are interested in purchasing.”
With over 3,000 offices, Century 21 is the largest real estate sales organisation in the Asia Pacific region, a region vital to Australia’s continued economic success.