The latest Australian Property Monitors Ray White Real Estate National Housing Market Survey confirms that housing activity remains subdued in most Australian centres.
Early signs of stabilisation and recovery are however emerging particularly in the Sydney market. Melbourne is also showing some resilience in what was expected to be a quiet period for that city.
Brisbane is the big surprise with reasonable levels of buying activity despite the damaging effects of the January floods.
In their latest property report Australian Property Monitors.
The Perth housing market however remains quiet with indications that buyer sentiment in that city is still flat.
All centres reported high levels of properties for sale in February with the exception of Brisbane where low numbers of properties for sale reflect the impact of the January floods on that city. The significant high number of properties for sale in other cities indicating a continued stock hangover from the low buyer activity levels that ended 2010.
The mid-price and low price segments of the market remain strongest in Sydney and Melbourne, with some activity being reported in the high price segment for both the Perth and Brisbane housing markets.
The outcomes of the February market monitor remain consistent with Australian Property Monitor analysis and forecasts. Strong economic growth will see a stabilisation and recovery in most major Australian housing markets through 2011, following subdued buyer activity towards the end of 2010.
Source: Australian Property Monitors
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