Wednesday, March 08, 2006

Adelaide's Party Month

March certainly is a non-stop party this year in Adelaide with the coming together of the Festival, the Fringe, the Clipsal 500 and the Adelaide Cup along with all of the normal Adelaide social calendar events, such as the David Jones Fashion Launch ... What an exhausting month! Not to mention the election...

So often we are asked how this impacts on selling and renting homes? At the end of the day the reality is that people are always buying and selling homes and rentals, if anything, are stimulated by all of this activity. By far the most significant consideration when trying to determine when to sell relates to the economy and community confidence in the economy. It appears that in the foreseeable future we may see stability in the interest rates - this is significant.

Having spent considerable time discussing real estate markets across the world it appears that these dynamics exist everywhere. Property prices are directly linked to confidence and mortgages drive prices. If people are prepared to borrow they create the demand and demand underpins how quickly and for what price properties will sell over and above the 'value for money' decisions.

So in summary, if you are buying, selling or renting it is hard to pick a 'normal' period so the best advice is to act as soon as you are ready. Enjoy Adelaide for its magic weather, incredible events and affordable housing - The Lucky State!

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