L Janusz Hooker says a change of government will assist the strengthening of house prices
"You only have to go out on a Saturday in Sydney and see the number of people turning up at open inspections – real estate is hot at the moment," says the Sydney-based LJ Hooker deputy chair L Janusz Hooker.
"Agents are reporting an increasing number of properties are selling after the first inspection and often above expectations after fielding several offers.’’
But Mr Hooker cautions the strong Sydney scenario doesn't mean boom conditions with other markets around the country still struggling.
For instance, in Melbourne’s CBD, apartments sales are still slow due to an oversupply, he says.
"It is also likely as more property comes onto the market in what is expected to be a buoyant spring, competition could ease and help stabilise prices."
He says there is an undersupply of property listings in Sydney as well as in Perth, parts of Melbourne and Canberra.
"But it will be interesting to see what will happen to prices as more stock comes onto the market,’’ Mr Hooker said.
"My feeling is that a change of Government will help fuel the buoyancy and there will be continued confidence and strengthening of prices.’’
