RP Data’s head of property research, Tim Lawless, has predicted home loan finance and buyer activity will slow down as the festive season approaches.
Mr Lawless said the seasonality of the market is most felt from the second week or December through to the end of January.
“For those looking to buy, the festive season is a time when there is reduced competition in the market, so potentially this may be a good time to seek out a property and make an offer,” Mr Lawless told Mortgage Business Magazine.
“Prices are likely to continue rising over the first quarter of 2010, albeit at more modest levels than recorded over 2009. Over the first nine months of the year values were up 8.1 per cent, however the month of September saw price growth flatten.”
Sydney mortgage broker Calvin Ng agreed with the sentiment, saying the festive season was also a good time to secure a home loan pre-approval so those with the intention to buy are prepared for when they find their desired property.
Mortgage Brokers in Sydney City
Source: mortgagebusiness.com.au
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