LJ Hooker 2012 Market Expectations
By L. Janusz Hooker, Chief Executive of LJ Hooker
The LJ Hooker business ended the year on a confident and positive note with property
sales across Australia and New Zealand increasing by 20 per cent in December 2011.
After a challenging 2011 for the industry it was good to see the number of property sales
lift at the end of the year.
The influence of the two consecutive rate cuts by the Reserve Bank of Australia at the end
of the year directly related to consumer activity in December. The rate cuts gave
prospective property buyers confidence to enter the market – many of whom had been
sitting back waiting and watching the market for many months in 2011.
December is always busy for real estate agents around the country. It is a key selling
period for the industry as people look to successfully complete negotiations before the end
of year. This was seen through LJ Hooker Parramatta who held their Big Event auction in
the week leading up to Christmas with 14 properties worth more than $5 million
successfully being sold.
This activity was also reinforced by the number of home loans written by LJ Hooker
Finance for the year, an increase of 14 per cent – especially in New South Wales as first
home buyers locked in purchases ahead of the Government’s changes to stamp duty
concessions.
2012 begins with momentum and confidence in the market. It also presents outstanding
buying opportunities for Australian families and investors as we predict more investors will
come back to the market as rental returns continue to strengthen.
Home owners will start the year feeling the benefits from the recent 25 basis point cut to
interest rates and we see this and potential future cuts attracting buyers who wish to take
advantage of currently well-priced property.
We predict Bowen, Queensland, Newcastle, New South Wales and Perth, West Australia
will be the places to watch for 2012 with lots of activity around key regional towns and
cities influenced by the continued mining boom.
Consumer confidence will continue to be key in 2012.
Media contact:
Simone Bergholcs
LJ Hooker Corporate
Tel: (02) 8303 7034
