Real estate still hot

Despite interest rate rises Changing Places real estate agents remain busy with a significant increase in pre-listing activity.

This is also echoed by RP Data’s market activity index, which saw real estate activity trended upwards last month, reflecting a high level of new listings flowing onto the market week on week.

Last week recorded the third highest number of auctions held so far this year.

50,486 new property listings have entered the market over the last four weeks and there are about 209,000 properties now being advertised for sale across the country, which is about the same amount of stock in the market at this time last year.

But despite stock levels remaining fairly high, RP Data’s senior research analyst Cameron Kusher said overall stock levels are depreciating, which indicates homes are being absorbed faster than they are being added to the market.

“On the rental side, the total amount of rental properties being advertised has fallen by 4.3 per cent over the last month, a sign that rental demand is continuing to escalate,” Mr Kusher said.

So prices look certain to remain strong in the coming months and there is no doubt it is still a good time to sell, and don’t forget you can take advantage of Changing Places flat fee real estate service.

Go to www.changingplaces.com.au  to find out more