"Sales continue to soar"

"The sales surge experienced at the end of 2012 has continued well into 2013, with ACTON sales results showing significant growth.

 Sales for March 2013 were 69.31 percent higher than sales at the same time last year and the March quarter results were 47.99 percent higher than those recorded for the March 2012 quarter. 

Sales also increased by 21.15 percent over the very strong December 2012 quarter. “The market is performing extremely well and we have seen an incredible turnaround over the last 12-18 months,” said ACTON Managing Director Graeme Baxter. 

“Listings have fallen from nearly 14,000 at this time last year to around 8,500 at the moment, properties are selling in a shorter time frame, and demand remains strong. If you are thinking about selling I would certainly encourage you to talk to your local ACTON agent."

Strong first homebuyer activity throughout 2012 is having a positive effect on other areas in the market in 2013.

“Demand from the first homebuyer sector still underpins the market, but we are seeing greater activity from upgraders, with sales of properties in the $600,000 to $1 million price range increasing. Sales over $1 million are also growing and we have seen outstanding sales in off-the-plan developments, which reflect a recovery in the market as a whole,” said Mr Baxter.

 While the overall outlook is very good, each suburb is a mini-market in its own right, with different demand and conditions, and Mr Baxter says buyers and sellers need to have realistic expectations. 

“There are instances of properties selling at the first home open, receiving multiple offers or selling over the asking prices, but this does not happen for each and every property. Demand varies from suburb to suburb and within price brackets, I strongly recommend that people speak to their local ACTON agent to get up to date information on prices, days on market, 
demand and supply.”"

This article was sourced from Acton Real Estate May 2013 newsletter.