Newspaper article Coffs Coast Advocate (Coffs Harbour, Australia)

The Season When Buying Is in Full Bloom Everywhere; INSIDER INFO

Newspaper article Coffs Coast Advocate (Coffs Harbour, Australia)

The Season When Buying Is in Full Bloom Everywhere; INSIDER INFO

Article excerpt

Byline: Melissa Martin Melissa.Martin@coffscoastadvocate.com.au

SPRING is finally here, and with it brings a raft of keen home buyers and happy vendors.

Spring is traditionally considered the time to sell, thanks to an influx of buyers coming out of their winter hibernation, and a season which can highlight the best attributes of a property.

While the 2011 spring selling season was softer than previous years, 2012 is shaping up as a buoyant market for both buyers and sellers.

Raine and Horne Coffs Harbour principal and Real Estate Institute of New South Wales director Christine Clarke is already seeing the change-of-season effects.

aIn the past two weeks we've seen a real influx of interest with more people at open homes and more genuine inquiries,a Christine said.

aPart of it is the longer days, sunshine and blue skies, but people are also feeling more positive about the future thanks to some good economic and financial data.a

Christine said properties priced below $500,000 were drawing the largest interest from buyers.

The finance industry is also confident the coming months will see a spike in activity.

A national survey of Loan Market mortgage brokers found 86% believed spring would bring a rise in loans.

Loan Market corporate spokesman Paul Smith said 40% of their brokers forecast a five to 10% increase in inquiries.

aThere are definite signs that spring is in the air for the real estate and home finance markets,a Mr Smith said.

aThe stable interest rate environment with the cash rate remaining near historical lows and generally soft property prices have been attracting investors.

aFirst-time buyers have also been more active and some are targeting investment properties as their entry point to the property market.a

Another study has identified first-home buyers and Gen Y buyers as the most optimistic about buying. …

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