Belle Frenchs Forest Property

Despite alarmist media coverage, the report has not had a direct impact on residential property prices.With the release of the report out of the way, buyers have been able to navigate the banks lending requirements with certainty.This has flowed through to increased engagement with buyers at open homes. March has seen stock levels remain relatively low.This is a trend that has been in place for a couple of years now.The lack of supply has kept buyer demand at a reasonable level.This has led to a substantial decline in the average days on market required to sell a property in the Forest market when compared to the duration of 2018. With the federal election looming, we will need to wait and watch carefully in terms of what any potential government does with the proposed changes to the negative gearing rules. January saw a strong increase in the number of online enquiries and open inspection attendees.Across the board we experienced enquiry and inspection numbers three times greater than those experienced in the last quarter of 2018. This was a result of a large amount of unsold stock across the Forest market going into Christmas.A large amount of that stock sold in January as buyers had the time over the break to evaluate the market and identify value. This increased enthusiasm from the buying community was a trend that continued throughout the first quarter of 2019. February saw the long- awaited final report from the banking Royal Commission being released. APRIL MARKET REPORT A WORD FROM CHRIS DELANEY