Showing posts from March, 2013


One of the strongest pointers to improving markets is the lift in affordability. Here's why housing affordability is so strong at the moment: the median dwelling price has dropped 5% since September 2010; average weekly earnings have risen ...7.45% in the same time frame; and the benchmark interest rate has dropped from 7.12% to 6.03%. All three components have moved in the right direction over the past two years to arrive at the best affordability levels in three years.

Agency Location no Longer Relevant

Buying behaviour has changed forever as a result of technology. This has caused many unintended consequences in the marketplace.

One of those is the agency location. The location of the real estate agent’s office is no longer a relevant criteria for home sellers when selecting an real estate agent. The reason? Because it is no longer relevant to a homebuyer where the agent’s office is located. Once upon a time, buyers would walk up and down the main retail strip of the desired suburb looking in real estate agents offices.

Research shows that only 2% of buyers now walk into an agent’s office during their property search.
Buyers are attracted to properties, not agents. Recent surveys highlight this trend: in excess of 80 percent of homebuyers found their homes on the internet, signboards or by direct agent communication. Print media was responsible for less than five percent of sales. A lot of buyers that use print media also use the internet, making print an unnecessary and expens…