Residential Property Market - Quarter 1, 2008
09/04/08
The Residential Market Overview for quarter one, 2008, published by Colliers Jackson-Stops, identifies that the build up of new stock in the property market which peaked in 2007 has now begun to slow down. The report also identifies that vendors are beginning to adjust their expectations in terms of the price achieved on the sale of their property.
The prices set at the start of 2007 proved to be ahead of the market and the market is no re-adjusting back to a more steady trading environment. Colliers Jackson-Stops identify that there has been a lack of new stock coming on to the residential market either by auction or by private treaty.
The report states that "vendors have no real impetus to place their properties on the open market, while buyers remain indecisive". There are deals to be done as vendors adjust their expectations.
Click on Download PDF's below to view the full report from Colliers Jackson-Stops.