Across Australia, relatively steady house prices are a solid indicator that the market has stabilised, according to the Housing Industry Association (HIA).
Commenting earlier this month on data from the Australian Bureau of Statistics that showed a modest rise in house prices, the HIA economist Geordan Murray asserted that the housing market is looking relatively robust, contrary to the opinions of some "headline-chasing doomsayers" – representing good news for prospective buyers and investors.
He said: "Lower interest rates, a relatively stable labour market, steadily rising household incomes, and population growth continue to provide a stabilising influence on housing prices."
In the September quarter of 2012, the national average house price increased by 0.3 per cent – representing the fifth consecutive quarter of relative steadiness in the market.
Investors, the HIA revealed on November 12, could be in a particularly good position now to purchase a new home, particularly if they are looking to build.
HIA chief economist Harley Dale asserted that a "competitive" market and lower borrowing costs spell good news for investors who are looking to make their move.
If you are looking to buy an investment property in Wollongong or the Illawarra, it can pay to get help and advice from people who know the area inside and out.
At MMJ Real Estate, we've been assisting people with their property needs for more than 50 years – and if you are planning a local investment, we're in a perfect position to give you the assistance and support you require.
Not only can we help you track down the perfect property and negotiate your purchase, but we can also help you to manage your investment – minimising your hassle and maximising your returns.
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