Residex stats surprising as broker bucks trend

by Mackenzie McCarty27 Feb 2013
In fact, Krinos estimates that January was one of the office’s ‘top five months ever’, after more than twenty years in business.

“I think finally people have realised that interest rates are good, the price of homes is pretty well to the bottom of the market, the confidence is growing – they’re not getting the bad vibes from Europe anymore either. I’ve noticed the clearing rates in Melbourne and Sydney last weekend were about 70% sold, so I think that reflects things across the board.”

Krinos says he expects local house prices to climb in 2013 and is interested to see how that affects investor interest.

“I think we’ve probably bottomed. I think it will probably stabilise for a while, but they can’t drop much from where they are now - we had a big jump in Western Australia a few years ago and now I think those prices have stabilised.”

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