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Good time to sell lower-priced properties

Exclusively provided to Property Observer by RealEstateView, the below infographic's results suggest it's a good time to be selling if you're currently holding a house around the $400,000 mark.

Click to enlarge

RealEstateView general manager, Petra Sprekos, told Property Observer that the research has found that first home buyers and investors are looking to get back into the market around the $400,000 price point with a preference for houses, providing good opportunities for those looking to sell quickly and at a reasonable price.

"The most signficant thing that came out of this was that interest rate cuts have really had an impact on the market, particularly around first home buyers," said Sprekos.

"We predict the market will continue to strengthen especially as we head into the key buying season."

The positivity being seen in the market is likely to be strong for affordable properties, particularly 10 to 15 kilometres from the GPO where transport links and amenity is strong, she said.

"They want the city lifestyle but they can't afford that, so they look further out."

Despite the clear trend towards houses as a preference, Sprekos did say that it's unlikely new buyers will be picky about getting into the market, and townhouses and apartments are also likely to see a pickup.

"Anecdotal reports from agents we're speaking to is that the market is picking up and the good property is selling quickly. If you have a property you're looking to sell, now is a good time," she said.

Those holding properties in higher yielding areas will also find that investors may be keen to buy in, creating more competition for new buyers and pushing prices up further.

Jennifer Duke

Jennifer Duke

Jennifer Duke was a property writer at Property Observer

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