Ray White Robina sees encouraging signs for the real estate and property industry
The first quarter of 2012 has produced some encouraging signs for the property industry. Although official statistics won’t be available for several months, Ray White Real Estate have managed to combine some key indicators from reputable sources such as realestate.com and local solicitors, combining the results with their own findings.
Recording 3973 new listings on the Gold Coast for the first three months of 2012, almost 10% lower than the corresponding figure 12 months ago, Ray White Robina found that the number of sales has risen. The first three months of 2011 resulted in 1168 sales compared to 1214 recorded for the first three months of 2012.
This encouraging trend is backed by Ray White Robina’s own internal figures, with March statistics showing a dramatic improvement. In March 2011, our Residential sales division recorded 19 sales with an end value of $7,300,000. In March 2012 that figure has jumped to 29 sales with a combined value of $11,800,000.
Also worth noting is the fact that in March 2011 we recorded just 3 sales above $500,000 whilst in March 2012 we recorded 8.
Further good news on the horizon
Effective as of July 1, the new State Government will reintroduce Stamp Duty concessions for those buying a home as their principle place of residence, making it easier for new homebuyers to acquire their dream home. It is also widely tipped that there will be at least one interest rate cut over the coming months.