Townsville

The Smartline Report – March Edition

The month in review: Townsville

By Herron Todd White
March 2015

Our residential property market remains at the start of recovery phase with positive vibes surrounding the market, however the lingering high unemployment levels and job security remain a restraint.

Over the past 12 months on the back of record low interest rates and subdued market conditions, activity remained slow and we believe that the most recent cuts in interest rates will provide little stimulation at a local level with economic factors still being the main driver of our market.

With median price points soft and record low interest rates, now is a good time to buy, however there are still market participants out there thinking “Will they go lower? Will I wait?” In our opinion, it is the buyers with money saved that are most likely to benefit from these lower rates and the current depressed market conditions. These are most likely to include investors looking to enter the market or expand their property portfolios.

Another sector where we have seen some anecdotal evidence of taking advantage of these lower rates is the renovator market. The ability to borrow funds at low levels is enticing home owners who have been wanting to renovate to take that leap.

Overall the impact of low interest rates is not currently having any dramatic impact on the market
and until our local economic conditions improve this is likely to remain status quo.

www.smartline.com.au

Please note that information in this publication is subject to change without notice. Smartline assumes no responsibility for any errors, omissions or mistakes in this document. © Smartline Home Loans P/L 1999 – 2015. Australian Credit Licence Number 385325

 

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