“Recent falls in dwelling values should not be seen as a weakening in the Australian property market, but rather as a sign of its ongoing strength,” said Chairman and Owner of Century 21 Australasia, Charles Tarbey.
“This is because the drop in dwelling values was driven by the shift to a negotiators market, where buyers and sellers of real estate negotiate to establish the fair value of a property, rather than a structural fall in values.”
Century 21 believes that this natural shift will pave the way for steady and sustainable growth in the foreseeable future.
“The recent momentum and excitement in the market was driven by buyers who thought they would miss out if they didn’t immediately purchase a property,” said Charles Tarbey.
“As a result, some people did miss out on purchasing a property due to the heavy competition in the marketplace.
“Many of these people who did miss out over the past few months have now taken a step back and will likely wait to see how economic indicators develop in the new financial year before purchasing a property,” concluded Charles Tarbey.
“The Port Douglas residential property market has also improved greatly in the last six months.” said Century 21 Port Douglas Real Estate Franchise Owner Ian Johnson.
“Our Port Douglas office has recently sold prestigious residential property in Solander Blvd, Nautilus Street, St Crispins Ave and Sand Street all fetching price over $700,000,” continued Century 21 Port Douglas Ian Johnson .
“Other areas in Far North Queensland which are experiencing an increase in sales volume and prices is Cooya Beach just 10 minutes north of Port Douglas” concluded Century 21 Port Douglas Franchise Owner Ian Johnson.
Century 21 Port Douglas Real Estate encourages potential buyers that are looking to purchase real estate to ensure they have obtained the appropriate professional property and finance advice before doing so.
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.