From the desk of the Managing Director
WELCOME TO ACTON!
It’s been an incredible start to the year! After a very strong close to 2012, the market has leapt to even
greater heights in 2013.
Traditionally more sales are made in the second
half of the year; January is normally quiet, and
then February and March build towards Easter.
This year, the market didn’t take a break over
Christmas with both December and January
recording exceptional sales, while sales for
February, the shortest month of the year, were at
unprecedented highs.
The factors driving this are low interest rates, strong
population growth (an increase of approximately
1,000 people per week), low unemployment,
more upgraders in the market, a strong economy,
and high confidence. Added to the mix we now
have reduced stock levels fuelling competition
between buyers.
The biggest problem facing the market is that we
are selling more than we are listing and this will
put upwards pressure on prices. We are seeing
well-priced properties sell in a shorter time frame,
increased numbers at home opens and some
properties receiving multiple offers and selling for
over the asking price.
This is exciting news, but does not mean that we
are in a boom. Despite what you might read in the
media, now is not the time for buyers to panic and
sellers to lift their price expectations. The market
is performing very well, but buyers still expect
good value for money and price is important. If
they feel a property is overpriced they can, and
will look elsewhere. If they do not have to buy,
they may even choose to wait to see what else
becomes available.
This type of market ideally suits auctions. Auctions
allow buyers to determine how much they are
willing to pay for a property and competition
between buyers often leads to the best possible
price for the seller. The statistics also show that
properties sold using the auction process usually
sell in a shorter timeframe than those sold using
other methods.
If you are thinking about taking advantage of the
great market conditions and selling your property,
speak to your ACTON agent about the best
marketing campaign for your property.
Welcome ACTON South East
ACTON’s strong expansion continues with the
opening of another new Region approximately 30
minutes from the CBD.
Simon Pattullo and the team at ACTON South
East have been servicing the busy South Eastern
corridor, foothills and escarpment since 2000,
specialising in residential property, through to
lifestyle, rural, equestrian and hills properties.
They can be contacted on 9497 3773.
ACTON Conference
At the time of writing, 100 members of the ACTON
Group have just returned from Ho Chi Minh City,
Vietnam, the setting for the 9th annual ACTON
Conference.
We were motivated and educated by top speakers
from around Australia and also from within our
own Group. As well as allowing us to hone our
skills and learn from the best, the Conference was
a great avenue for networking and sharing ideas
within the Group. We are more than ready for
whatever the market may throw at us in 2013.