Sentiment for the New South Wales property market has risen according to the Property Council of Australia and ANZ's latest 'Property Industry Confidence Survey'.
Confidence levels have increased from the March quarter figure of 112, to 131 for June – with a level of 100 being neutral.
The survey included 3,100 respondents from various professional positions in the property and construction industry.
New South Wales stood out amongst other states as a star performer, with the biggest lift in confidence seen across the country.
The growth in confidence has been attributed to a number of factors, with ANZ head of property research Paul Braddick citing current low mortgage interest rates, the tightness of the property market for supply and demand, and high sales volumes from the previous months.
This is good news for those who are wishing to sell real estate in Wollongong, as it is an indication that the property market is steadily improving.
According to weekly sales data from the Real Estate Institute of NSW (REINSW), the state has seen improving auction clearance rates for this year.
For the week ending April 14 there was a total of 463 properties up for auction, with a clearance rate of 66 per cent. When compared to figures from this time last year, there has been a seven per cent increase (from 59 per cent).
Low vacancy rates across the state have also resulted in a very tight rental market, with demand overpowering supply for rental properties.
"Sentiment across the property industry has hit new heights and now sits well above the national average," said Property Council NSW executive director Glenn Byres.
"Positive expectations for national economic growth, availability of debt finance and house price growth have largely fuelled the positive result."
If you are looking for expert and professional real estate agents in Wollongong to help you sell your property, then contact an agent at MMJ Real Estate today.