TOWNSVILLE IN FOCUS - Townsville’s market recovery seems to be - TopicsExpress



          

TOWNSVILLE IN FOCUS - Townsville’s market recovery seems to be as elusive as ever. The signals are all aligning – low interest rates, good affordability, good rental returns – but the frustrating part is that the recovery just isn’t happening. The sentiment has continued to build, people can feel the demand out there, but don’t seem able to cope with the price hurt needed to make it happen. The level of forced sales via mortgagee-in-possession (MIP) and sales by receivers has been a huge blight on the market over the last 12 months. There is nothing like a fire sale to bring out the bargain hunters and keep the prices depressed. However unit receiver stock is now almost cleaned out, which is another positive sign for the unit market to begin a return to some form of normality. The land market space also needs watching. There is developer pressure for prices to rise, but its impact on the finished cost of a house and land is an issue if it means total cost may not stack up in the current ‘buyers market’ environment.
Posted on: Thu, 04 Jul 2013 04:34:47 +0000

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