MARKET COMMENT AS AT SEPTEMBER 2013 With buyer demand continuing at a high level, the Tommy’s sales team is looking forward with anticipation to the onset of spring despite the recent changes to lending policies announced by the Reserve Bank. This is the season that usually heralds not only the end of winter but more importantly from our perspective, it is the time of the year when real estate activity picks up and more home owners deem it to be the right time to explore their market opportunities. We can confidently predict that there will be an injection of new property coming to the market in September/October and this is expected to go some way towards satisfying current home buyer demand. The fact that the Reserve Bank’s imposed restrictions on borrowing levels don’t take effect until the beginning of October, leads us to believe that many home buyers and particularly first home buyers will be making an all-out effort to purchase a home before that deadline date. Furthermore, the Reserve Bank is allowing the banks to honour any pre-approved loans for a further six month period. There would appear to be a large number of buyers in this category and they must surely be seriously in the market to take advantage of their privileged position. We believe these factors alone, particularly as they are complemented by interest rates that continue at “best ever” levels, opens a huge window of opportunity for home sellers over the next few months. Our advice is that if selling your home is an option that is on your radar, consulting Tommy’s sales team now would be a logical move. Tommy’s will be pleased to offer advice on pricing, method of sale and in regard to formulating a marketing package that will optimize your selling opportunities.
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