Monday 5 July 2010

REA reviews property market for first six months of 2010

A new survey by nationwide property consultants Real Estate Alliance agents reports signs of increased demand for properties from First Time Buyers Market in recent weeks. While the group agrees that prices “achieved” are down by an average of 50% from early 2007, they predict that prices are levelling off and expect very little decrease in prices for the remainder of 2010 as there are signs of stability in certain sectors of the property market.Real Estate Alliance sale agreed over 600 properties in first six months of 2010 with levels tailing off slightly in the month of April after an encouraging first three months of the year. In recent weeks, levels of activity have increased again and members are reporting over 150 sale agreeds for the month of May and approximately 115 for the month of June.