2013 has started with a spike in buyer activity. So far the calendar year has shown 2.46% growth in prices according to the excellent daily indices from the economists at RPdata.
Whilst this growth is pleasing from one point of view it’s actually quite annoying from a buyer’s perspective, the sight of crowds of home buyers walking through open for inspections on a Saturday is guaranteed to strike fear into the heart of an investor. An emotional home buyer is quite likely to pay more for a property than an investor when it’s a case of multiple offers, which is what has been happening so far in 2013.
You can’t always have it your own way as a buyer if you want to also benefit from the upswings that happen now and again with property, lets just hope that Brisbane doesn’t experience a runaway market such as we last encountered in 2007, a nice steady and considered growth rate of 5% for the year would be close to perfect from our point of view. Markets don’t listen to logic and common sense however and it’s part of our job at Allen Real Estate to accurately convey what the market is actually doing from week to week and to be able to adjust a purchase strategy around the prevailing conditions of the market.
A picture can be worth many words..