Best month in 30 years: Why our real estate market is strong

ONE Ballina-based agent says he's seen a shift in buyer confidence, and it's having a dramatic impact.

Despite a national property downturn, conditions on the Northern Rivers have been far stronger than much of the rest of Australia. Photo: David Nielsen. Picture: David Nielsen

THE NORTHERN Rivers property market is poised for a solid start to spring, with a widespread belief the bottom of the market has been reached.

Local agent Braden Walters, of McGrath Ballina/Byron Bay says he's seen a shift in buyer confidence over the last three weeks.

• The Lismore seminar that could help you get more money for property

"The buyers that had been sitting back and watching the market for the last 12 months have now decided to enter the market and pursue properties. Most of our discussions with buyers have been around the state of the market and that they felt that we were at the bottom of the market and given the current interest rates, there is no better time to be buying than now."

The conditions are good news for sellers, many of whom have been holding off due to uncertainty in the market.

"Our stock levels have been increasing at a traditional level given the time of year and as a business we posted the best July we have had in 30 years. So that is giving us a lot of confidence into what the market is starting to do and that when Sydney and Melbourne get moving we will see those sea/tree changers within 3 months following," Mr Walters said.

Chief Economist for REA Group Nerida Conisbee said the Northern Rivers property market was one of the country's most solid performers.

"Despite a widely publicised national property downturn, conditions in the Northern Rivers have been far stronger than much of the rest of Australia," she said.

"While Melbourne and Sydney markets have tumbled over the past two years, the Northern Rivers region of NSW has remained stable with some towns performing very well.

"What's driving it? Lots of factors including the fundamentals of jobs and population growth but also the Hemsworth factor and a growing international recognition of the region as one of the best places in Australia to be."

Information session

AS A home owner, it's only natural that you want to maximise the sale price of your property, but what's the best strategy?

A panel of leading real estate industry experts will answer this question and more at an innovative seminar in Lismore this month.

Expect More, presented by The Northern Star, will provide attendees with a host of valuable insights into the Northern Rivers property market, along with winning marketing strategies for owner/occupiers and investors alike to achieve the best return on their property in the current market.

Speakers will include REA chief economist, regular property commentator on Channel 7's Sunrise and Sky Business and columnist for The Australian, Nerida Conisbee, leading local real estate agent and REINSW Board Director Braden Walters, of McGrath Ballina/Byron Bay; News Regional Media Real Estate General Manager Louis Moore; and NewsCorp Senior Real Estate writer Elizabeth Tilley.

The seminar is open to the public, however numbers are strictly limited, so booking is advised. There is a nominal fee of $10 which includes drinks and canapes on arrival.

The seminar will run from 5-7pm at the Lismore City Hall on Wednesday, August 21.

To book your place, visit www.northernstar.com.au/expecttickets