How the Market is Backward at Going Forward

While buyer momentum has gradually built during spring, sellers have remained relatively subdued. It is unclear whether we will get the anticpated surge in listings in the reaminder of 2012. The prestige market is the main culprit, with the number of properties for sale continuing to be restrained.

Other data released this week was generally postitive for the Sydney housing market’s prospects. The Australian Bureau of Statistics says the number of NSW owner-occupier homes loans rose by 1.6 per cent for the yesr compared with the same period last year. Most of the increase in leding activity came from an 8.5 per cent rise in first home owners during the month.