Century 21 believes that 2012 saw a general stabilisation in Australian residential property prices which in turn may provide a strong platform for moderate growth in 2013.
Commenting on the year ahead, Chairman and Owner of Century 21 Australasia, Charles Tarbey, said that "low interest rates, good stock levels and recent price stabilisation in many Australian property markets may, in combination, lure many buyers into the market in 2013."
"The Reserve Bank's four interest rate cuts last year should encourage the market, and with more cuts potentially on the cards, yields on many property investments may further improve which could also lead to a lot of new buying activity from property investors," said Mr Tarbey.
"However, the fragility of the global economy and local consumer confidence will likely be key impediments to the market achieving the type of growth we saw pre-GFC."
Mr Tarbey concluded that "while each individual market should be assessed on its merit, there would appear to be many prevalent market conditions that may prove to be very attractive to buyers in 2013."
Mt Tarbey's comments came on the back of RP Data-Rismark's end-of-year housing data for 2012 which showed that capital city dwelling values eased 0.3 per cent in December, to be down 0.4 per cent over the year.
The company noted that while capital city home values remained 5.7 per cent lower than their historic highs of November 2010, dwelling values were up 1.8 per cent from their low of late May 2012
For more information about the residential property market in your areas of interest, please feel free to stop by your local Century 21 Real Estate office for expert and clear advice. Additionally, if you would like to speak to a mortgage professional about suitable loan packages, please contact Century 21 Home Loans.