Expert property advisors spend six days a week viewing and assessing property, so know the market very well. Property advisors buy and sell properties for their clients and use their in-depth knowledge to spot patterns that indicate changes in market behaviour.
The insight of property advisors is also often used by banks, insurers and real estate agents, and many finance firms engage property advisors to speak at their seminars to give their clients a broad understanding of different investment options. Property advisors are also regularly quoted in newspaper articles or in company newsletters and brochures.
Spring is a busy time in Australia for auctions. So with spring just around the corner let's see what Australian property advisors are forecasting for the season.
Reports indicate values have remained relatively unaffected in 2011, forcing many vendors to relinquish previously heightened expectations of capital appreciation resulting from strong property growth in recent years. Market activity has been down with many buyers cautious of increasing personal debt levels. The result is a decline in the number of sales across Australia, particularly at auction.
While an increasing number of properties are being passed-in at auction, various professional property advisors say that many of these have subsequently sold following tough post-auction negotiation. This result indicates that although buyers are still willing to pay well for quality assets, they are adopting a more cautious and measured approach to buying.
Markets in regional and coastal centres are performing similarly, and prices remain relatively stable although activity has demonstrated a notable decline.
These conditions allow smart buyers to take advantage of weaker competition to buy high quality investment-grade property. However, this opportune time for buyers is unlikely to continue into 2012, as buyers accept that the 'sky hasn't fallen in' and return to the market.
Property advisors expect this return could happen as soon as spring, particularly given the recent decline in local and international share markets. Low levels of housing affordability are likely to see demand lean towards units in well-located areas with good transport and infrastructure.
If you are thinking of buying or selling (or are merely interested in the Australian property market) there are many independent property advisors that can provide you with well-researched advice and tricks of the trade. Check out the many newsletters and seminars available in your capital city.