With tinsel strung up and Christmas carols playing softly throughout the office, it seems that once again Christmas has come around quickly and is almost upon us. As I say every year, the years do not appear to be slowing down, and with this year drawing to a close, 2012 looks to be busier than ever for the Australian residential property market.
To those people who made a property purchase throughout the year, I congratulate you. Whether buying for the first time or adding to a burgeoning portfolio, purchasing real estate is a significant step and represents an investment in yourself and your future – something to be proud of.
Alternatively, for those who, for whatever reason, didn't manage to secure a property purchase in 2011, I encourage you not to give up your search, if property ownership is an important goal for you. With interest rates down (and the potential for further cuts) and recent improvements seen in housing affordability (amongst other factors), 2012 could be the year where you find your dream home or investment property.
On the topic of interest rates, for those of you who wish to take advantage of the Reserve Bank's cut to rates in both November and December and are looking to purchase a property prior to Christmas, I hope the process of organising the necessary elements is a smooth one. There is no doubt that property transactions in the lead-up to Christmas can be somewhat busy and stressful with many people preparing to go away, and I would advise you to ensure that all elements (such as property inspections, strata reports, etc) are completed before the necessary providers close for extended breaks over Christmas and the holiday period.
To all of my readers, I hope you have a fun and relaxing time over the holiday season. I will be taking a little bit of time off writing these blogs to enjoy a nice break but will return in 2012 to make sure you remain up to date with happenings in the Australian residential property market.
From myself and the entire team at Century 21 Real Estate, I would like to extend warm wishes to all readers for a happy and safe Christmas and holiday period as well as a successful year to come.