ALL IN THE FAMILY: Erika Adams, left, Michael Adams and Caroline Atkinson, of LJ Hooker Twin Waters, at the national summit at Novotel Twin Waters Resort.
ALL IN THE FAMILY: Erika Adams, left, Michael Adams and Caroline Atkinson, of LJ Hooker Twin Waters, at the national summit at Novotel Twin Waters Resort.

Australia market trending up

SPEAKING at LJ Hooker's Australia and New Zealand annual summit last week, deputy chairman L Janusz Hooker said the Australian property market had been trending up for almost a year.

More than 550 LJ Hooker principals, top sellers, property managers and support team were at Novotel Twin Waters for the group's annual summit.

"LJ Hooker principals on the Sunshine Coast have reported a solid first quarter with increases of 30% in sales transactions compared to the first quarter in 2012," Mr Hooker said. "There's been strong inquiry in the $500,000 to $650,000 price range on the Sunshine Coast and also a number of sales in the $800,000 to $900,000 price bracket, which suggests the upper end of the market recognises the current opportunities.

"Tourism accommodation and investment properties were not selling 12 months ago but there's been a noticeable pick-up in these sales this year.

"Consumer confidence is notching up. Investors have been encouraged by the bottoming of property prices and the record-low interest rates, with the RBA dropping the cash rate to 2.75% this week.

"The Australian residential property market has been trending up for almost a year, with Sydney and Perth taking the lead.

"If you look at historical data, the entire national market moves in unison, albeit with delays of up to 12 months in the more discretionary markets, which includes holiday markets.

"With the currently attractive prices on the Sunshine Coast compared to their peak pre GFC, it was only a matter of time before the local market picked up and the interstate investors returned."

The annual LJ Hooker Summit conference started at Brisbane Convention and Exhibition Centre on Thursday, May 9,with Ideas Exchange, the inaugural one-day conference that brings together leading real estate figures across the breadth of networks.

Following the Ideas Exchange, proceedings shifted Novotel Twin Waters for seminars and workshops from Friday to Sunday.



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