The housing market has turned the tide. Evidence from CoreLogic is that there is a recovery in housing values which accelerated in August. It shows the pace of recovery with market conditions consistently improving throughout 2019.
More likely buyer demand and confidence will continue to increase and the auction clearance rates will show more buyers. Its likely that buyer confidence is responding to the positive effect of a strong federal government, tax cuts and lower interest rates. Its still early for the recovery trend, although growth is gathering some momentum and this is illustrated by the growth in the housing market in the largest capital cities along with the ongoing selected regional growth.
In particular the Chinese buyers are flocking back to Australia’s cheap property market. The weak Australian dollar is delivering an 11.1% discount on Australian property for Chinese buyers. Melbourne ranked at the top pick by almost half of Chinese buyers. Chinese activity in the market, renewed interest could lead to a boom in prices, leading to increase in demand for goods and services with the influx of the new buyer and increase in business opportunities.
A good sign for business owners and the time for people to buy businesses. Please call First Choice Business Brokers on (03) 9899 1888 for a confidential discussion, and make sure to check out our website business for sale listing at www.firstchoicebb.com.au
