Home buyers feel more hopeful about the housing market conditions. New research demonstrates real estate buyers with renewed hope of bagging their dream home for the coming Spring. According to Westpac’s recent Housing Sentiment Survey, more than half of participants think it’s a good time to enter the market.
Homeowners with plans to upsize to a bigger home feel bright hopes, with almost three quarters of those surveyed believing that buying their next home was a good time. Homeowners who think that present circumstances are more favorable for up-sizers than a year ago have seen a 125 percent rise nationally.
Most Sydney residents think, according to the study, that there is a chance to capitalize on reduced rates before the boom conditions return to the market. Will Ranken, general manager of homeownership at Westpac, says renewed trust comes from a variety of sources. “Easing house prices and record low interest rates in significant towns like Sydney have generated a favorable market for buyers,” he claims.