Real Estate Valuations Rise But Are Still Stable
The improving real estate market in the Sydney region has led to optimism and great opportunity for home buyers across the country.
Online, December 21, 2013 (Newswire.com) - The improving real estate market in the Sydney region has led to optimism and great opportunity for home buyers across the country. It is also a sign that the economy is ready for growth after emerging out of the recent recession. While detractors have questioned the possibility of high prices restricting buyers from several market segments (such as high-end residences), the prices are matched by affordable mortgage payments on the prices. And, the low rate of interest payments are also a favorable sign that the economy is ready for this price increase. Companies like Valuator are becoming increasingly important as the nascent real estate industry grows, with accurate property valuation that incorporate high level precision.
With the region's real estate market witnessing a resurgence in the last few months, the climate for Aussie house selling has improved in an unprecedented way. This change is first in the last three years in the country.
However, while it is definitely a plus sign for current and potential sellers, the prices have not reached skyrocketing levels making them unattainable in the eyes of home buyers.
The reason behind this are current mortage rates. As long they stay under the 30% line, the million dollar homes in the region will still be considered in reach, and therefore will be considered affordable.
According to data by RP Data-Rismark, residential home values have risen by 13.4% - a first in the last few months. Even the month of October saw a surprising rise of 2.4%
On the other hand, these have created debate over the potential for homes soon becoming unaffordable. According to the Recent Bureau of Statistics data, first time home buyers were only a small proportion of the total home loans undertaken in August - said to to be the lowest figure in the last 9 years. According to economists, this is still a favorable sign, as low rates of interest could mean successfully repaying new mortgages. The claim of prices locking out first buyers from the property market has also been discredited, as average incomes to manage repaying today's home loans are in sync with those in the mid-1990s.
The emergence of a strong economy, and its impact on the real estate sector have led to increased demand for property valuation firms which provide high degree of precision, while factoring in all aspects comprehensively. Valuator is one such firm that is known for rapidly providing credible and highly detailed valuations for homes, plant and machinery and even businesses.
About the Company
With its focus on providing an evaluation that exhaustively considers all aspects of a business, home or plant, Valuator Pty's asset valuation team has acquired the biggest clients across the country. These include ANZ and Suncorp Bank, and other big names. For more information and client case studies, visit the official website of Valuator Pty at http://www.valuator.com.au/