Market Too Hot Or Market Too Cold?

Market Too Hot Or Market Too Cold?


August 2016
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Market Too Hot Or Market Too Cold?

The media’s unrelenting pursuit for a nationwide housing crash, instilling fear into the publics minds right before the Spring has yet again been fuelled by some of the extraordinary commentary that has been written within the past week.

Only a few short weeks ago, we were being told that a ‘sharp downward correction’ in housing and apartment approvals was a sign of things to come, with the notion put forward that finally, after many long years, the market had reached its peak and that the level of demand was no longer justifiable in the eyes of developers.

Of course, in line with the sentiment expressed by a number of experts in the field at the time, it would appear that much of this commentary should continue being dismissed, with the latest figures clearly indicating a 23% leap in approvals for apartments, townhouses and semi-detached properties between June and July of this year, the largest monthly gain in some three years.

Not enough to satisfy the self-fulfilling agendas of those in the media, this weeks numbers are now being considered an indication of ‘oversupply’.

The inaccuracy of not only the media’s reporting of such figures, but their innate ability to jump on any industry news and spin it into a couple of paragraphs that help to reinforce the image they wish to portray to the public is laughable.

Our firm continues to see record levels of engagement across listed development sites in Australia, with enquiries, page views and click to call figures all growing substantially month to month.

Additionally, in our daily discussions with agents, developers and buyers advocates alike, we are hearing about nothing but positivity in the market ahead of the 2016 Spring season.

Authored by Rob Langton, Development Ready.

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