Last year amongst the doom and gloom I heard the saying “Stay away in May”, this year we coined a new phrase “Deal a day in May!!” It has been a month of many stories; we have sold properties that have been on the market for over 12months and others that had only been available for a few hours. We saw 18 sell under $550K and 9 sell between $550K & $1mil. We had auctions sell under the hammer, while others struggled with inspections.
We have replaced these sold properties with nearly 40 fresh listings. The change of government and lowering of interest rates is having a larger affect in our market than the financial markets volatility overseas. Traditionally real estate and the share markets have moved in different rhythms, only recently did they grow and fall hand in hand. The current signs are it’s the real estate markets time to sit as a stable investment and lifestyle option heading into the end of 2011/12 FY.
We have some big auctions this weekend at 15 Locke Street New Farm (Sat 10.30am –http://rwnf.com.au/qld/new-farm/783403/ & 1071/39 Newstead Tce “Pier North” Newstead (Sat 2pm – http://rwnf.com.au/qld/newstead/783211/). Also the Teneriffe festival is only one month away, 7th July 2012 – more information can be found at: http://newfarmvillagenews.com.au/ or for any other local info http://newfarmpark.com.au/.