Refocus on the Townsville Property Market

Now that the election is finally over, consumers can refocus on the property market.

Craig Allom of Ray White New Projects Townsville said that while there is no best season to sell property, consumers generally lose focus on the property market during an election.

"This is really the only time we witness a slow in market activity tied to a particular event or time of year" Mr Allom said.

"We don't really know why this is the case, but we can assume that it is because of the distraction an election causes, and the potential for changes in the industry that can effect the decision of weather to buy now or wait a few months. This election was particularly drawn out, so many buyers will be relieved they can refocus and commit to a sale."

Mr Allom said that "while some people may believe that the property market slows according to a seasonal pattern, the figures don't reflect this. Townsville's highest selling month in 2009 was March when 346 transactions occurred. The elements that drive the property market population growth, interest rates, economic growth and consumer confidence have no regard for seasons."

"And the motivations for vendors often have no regard for the seasons either family circumstances, new employment, downsizing etc," he said.

Mr Allom said the misconception that the residential property sales peak during the winter months could have something to do with homes presenting better in the cooler months."

"Our summer can be quite warm and if a home isn't well ventilated, has noisy air conditioning or people feel uncomfortable before the even get to the open for inspection,it can affect the way they view the property."

Refocus on the Townsville Property Market

By: Craig Allom

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