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Capital growth buoys property market sentiment

By Matt Hurlston

Anyone who has bought Hughesdale real estate or property in other parts of Victoria could find they’ve benefited from strong capital growth over recent months. Results of the latest ANZ/Property Council Survey show that while confidence was down across the state in the June quarter, some sub-indicators continued to thrive.

Among them was the prospect of capital growth, which many of the 1,700 respondents said they’ve witnessed in the recent past. The Property Council’s deputy executive director in Victoria, Asher Judah, explained that the industry is currently moving through a period of change.

“On one hand, capital growth expectations and foreign investor interest remains very strong, pointing to continued strength across the industry,” Mr Judah explained.

Overseas investment has been buoyant, as the figures show residential sales made up 28 per cent of total transactions in the sector during the three months to June. Capital growth expectations for housing registered a reading of 15.3.

Consumer confidence is also strong

The ANZ-Roy Morgan Research consumer confidence results have seen their fair share of ups and downs over recent weeks, but have improved slightly over the past few days. During the week to 19 April, consumer sentiment was up 3.4 per cent – this helped reverse some of the four per cent decline seen over the past few weeks.

One of the strongest indicators was people’s perception of how well the economy will perform over the next one and five years. This is just what the property market needs – individuals who are willing to invest and make the most of the current positivity.

This could give people the push they need to buy real estate in Hughesdale – something Matt Hurlston and his team will be able to help with. Ray White Carnegie has been pairing people with their ideal homes for many years, so why not get in touch to see how we can help you?

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