From the desk of the Managing Director
WELCOME TO ACTON!
News out of the market continues to be
positive. ACTON sales for July and August were
significantly higher than at the same time last
year, increasing 59 and 42 percent respectively.
Monthly sales have exceeded their corresponding
month in 2011 for all of 2012, which is a very
encouraging indication of a sustained recovery.
The interest rate cuts and ongoing rate stability
are definitely having an effect on the market, with
figures revealing first homebuyer activity is at its
highest level in almost three years. Figures from
the Office of State Revenue show first homebuyer
grant applications increased 5.1% last month to
1728 - a level not seen since November 2009, the
second last month of the first home grant boost.
71 percent of applications were for established
homes. ACTON’s regions report high demand in
the first homebuyer market, with properties under
$500,000 selling quickly.
WELCOME ACTON COOGEE
We continue to bring our premium service to
more areas with ACTON Coogee opening in
September. Manager Jon Brady and his team will
service the vibrant and growing region around
the Port Coogee development and throughout
Spearwood and surrounding areas.
ACTON Coogee is located at 4/432 Rockingham
Road, Spearwood. Jon and his team can be
contacted on 9434 8200.
More good news on interest rates is expected,
with two major lenders predicting two more rate
cuts before the end of the year.
AUCTION ACTION
Another good market indicator is the increasing
activity centred around auctions. At the time of
writing, of the ACTON auctions held in the last
month, 30 percent were sold prior to auction,
32 percent were sold under the hammer and the
remainder were passed in, to be sold soon after.
We are seeing more people attend the auctions
and more active bidders, which makes for very
lively proceedings.
Auctions have always been the fastest way to sell
a property, but for most of this year we have seen
properties get passed in and then sell afterwards.
The increased activity is a result of stronger buyer
confidence, lower stock levels creating more
urgency and improved financial conditions.
ACTON Coogee is the second new ACTON
region to open this year. Another office is set
to open in East Victoria Park in October,
with more to follow in the northern
beach corridor later in the year.
Graeme Baxter
Managing Director
WWW.ACTON.COM.AU