News

Property market to pick up

PROPERTY experts have warned the window of opportunity to buy cheap real estate in south-east Queensland is going to close within the next six months.

But, before you start swiping the credit card and buying everything in and out of arm's reach, Stuart Wade of Wade Real Estate isn't convinced.

"It's still very much a buyer's market and (to say it's going to change) is like looking into a crystal ball - you just don't know," Mr Wade said.

He said he had not noticed a steep incline in the market to replicate what experts suggested, but there was a chance it could pick up.

"Here in Warwick, I haven't noticed an increase in prices, but the sales team has been pretty busy with contracts," Mr Wade said.

"I think it will stay the same for a while, for the next 12 months or so, then hopefully after that things will improve."

LJ Hooker principal Rob Finlay said he had noticed the market picking up, but that didn't mean an overall boost in the market was a sure-fire thing.

"Inquiry has definitely picked up but whether that leads to prices going up on properties, I'm not entirely confident of that," Mr Finlay said.

He said although he was not sure the buyer's market would completely flip within the next year, confidence needed to be restored in order for anything to happen.

"It's all positive but what we need to do is create confidence in the market," Mr Finlay said.

"It's been lacking that confidence and (once it's restored) it will transpire to sales."

Mr Finlay said anyone wanting to sell a home should get a proper valuation done before pasting a price on it.

Topics:  market, property, real estate




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The improvement would be mild when compared to past cycles