Wednesday, July 13, 2011

Soft Property or Volatile Shares

Check this out… Toop&Toop currently have 10,081 registered buyers (as at Wednesday) - slightly up from a long term average just short of 10,000 where it hovered for years. Online buyer visits have not dipped AT ALL. On the other side of the card, latest official figures show there has been a drop of 16% in Lands Title Office settlements, and a drop in median prices.






These indicators show the number of new people enquiring to purchase is stronger now than it was in the better market, while the rate at which the current buyers are purchasing has slowed.







Another forward indicator has been the recent drop in actively advertised properties from over 2000 to 1773. These stock levels are a very big driver of the market. Toop&Toop's forecasting tool - the Toop Market Index (TMI) - compares new buyers entering the market vs active on-market homes and it shows conditions have begun trending back toward equilibrium. This is excellent news for those struggling to sell their homes.







RP Data's report released this week shows rents on the rise which will stimulate more investor activity, while rising rents will ultimately kick start the dormant first home buyers.







We called it two weeks ago... overall we are entering a stable period in the SA property market. Unlike the stock market this week, property remains stable. Sellers and buyers need to just 'get on with it' - stop watching their lives pass by.







The RP Data report on the rental market - released on Monday - is available here at http://www.toop.com.au/uploadfile/RPData11July.pdf. The analyst from RP Data appeared on Toop.TV Wednesday (go to Toop.TV), saying "...the balance is returning!"







Go Property! Ring me now on 0418 824 188 - and let's get the sale of your house moving.







Any comments and questions - email anthony.toop@toop.com.au




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