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BOTH VENDORS AND BUYERS PROVE TO BE CONFIDENT CONSUMERS          

 

The release of recent excellent consumer confidence figures confirms what real estate agents across the country have been seeing for months according to First National Real Estate.  “We have been saying for the last few months that we believe the Australian market has turned the corner, and this latest surge in consumer confidence proves we were right” said First National Real Estate CEO Ray Ellis.

 

Released last week, the Westpac-Melbourne Institute Index of Consumer Sentiment recorded its largest jump in 22 years.  First National Real Estate is Australia’s largest independent real estate network with more than 500 members throughout Australia as well as New Zealand and are firmly of the opinion that property has been leading this positive sentiment.  “It does not matter if you are buying or selling, when housing affordability is this good, everyone wins and everyone feels confident.  The market is always about confidence” says Mr Ellis.  “The latest BIS Shrapnel research that suggests up to a 19% increase in house prices by 2012, indicates this confidence should continue into the future”.

 

First National Real Estate first noticed the turn around towards the end of last year but since then have seen quite spectacular results for the beginning of the year, with some members recording record clearance rates.  This national sentiment has also been seen locally.  “Certainly the First Homebuyers’ Grant helped” said Craig Dixon, Principal from Settlement First National Real Estate, “but now we are beginning to see movement in every part of the market.  That is clearly about confidence.”

 

“Vendors feel they can now confidently set a price and certainly our members have always found that a well informed vendor can set a realistic price and get the result they want.  We have been able to help many people sell their homes to first home buyers and then successfully trade up into a property that would have been unrealistic last year” said Craig Dixon.