Spring is probably one of the busiest times of the year in the real estate world. There are more properties on the market and more people at open homes and exhibitions. The increased activity in the market makes it an exciting time to be dealing with property. But for sports fans, spring also means going through a few tough weeks between the time when the footy season draws to a close and when the cricket season hits off.
And that dreaded time is fast approaching… this weekend the Swans and the Hawks will battle it out in the AFL Grand Final at the MCG, and next weekend we’ve got the NRL Grand Final to look forward to. After that, there’s a long, hard wait until cricket season starts.
If you didn’t watch ABC’s new political thriller The Code on Sunday night, you definitely missed out. This is probably a huge call to make, based entirely on a single episode, but it is shaping up to be one of the best Australian-made TV shows to hit the screen recently.
Not only is it a gripping drama, which won a couple of awards from the Australian Writer’s Guild before it even went to air, but it’s going to change the way people view our city. In The Code, we finally have a show that portrays Canberra as a spectacularly beautiful and sophisticated city, albeit one with a dark side lurking just beneath the surface.
With the national real estate market currently experiencing strong growth levels of around 9.5%, there has been a lot of talk lately about the affordability of housing prices in Australia. At a national level, affordability is undoubtedly a concern and as our population continues to grow, we are going to need effective and forward thinking policy decisions to help us all move forward.
Of course, as is usually the case, no one can seem to agree on what those policies should be. A number of factors need to be carefully considered if we want to come up with a workable solution.
At its most basic level, supply and demand are the fundamental forces that drive our economy, and you don’t have to be Adam Smith to recognise the effect they have on Canberra’s real estate market. Understanding what is driving supply and demand and then using that information effectively is a key aspect of successful investment.
There’s a great example in a recent report from RP Data, which revealed that over a third of the homes sold in Canberra in the year leading up to June 2014 were sold at a price higher than they were listed for. Why is this happening? The short answer is – supply and demand. Simple right? Well, yes and no. To get a clearer picture of what is happening we really need to consider a number of factors.