• January 11, 2013

Happy New Year! The beginning of the year marks an exciting time at Compton Green as we are busy implementing goals to make this the most rewarding year yet. To give your clients the best service, you need to have the best people in the business on your team. We are lucky to have a group of well-rounded and knowledgeable professionals who strive to uphold the company’s core values of providing the highest calibre of customer care.

So what is in store for 2013 at Compton Green? Director of Compton Green, Brad Carlin-Smith explained he is looking forward to the year ahead. “2012 ended on a positive note for Compton Green as we witnessed a rapid increase in numbers at open for inspections during December. The good news is that interest rates are expected to be cut within the next couple of months. If demand increases and supply remains, we will see an upward trend in sales. Being innovators, showing tremendous market leadership and just doing what we do will make 2013 a great year,” said Brad Carlin-Smith.

From a long term perspective, data has been released which highlights how the Western Suburb’s is fast paving the way into one of the most sought-after residential corridors in Melbourne. For example, the government has planned for housing and commercial development in Footscray, a suburb which provides both affordability and easy access to the CBD. If affordability is your driver, the inner west of Melbourne definitely represents great value.

Real Estate Institute of Victoria's Policy and Public Affairs Manager, Robert Larocca

Real Estate Institute of Victoria’s Policy and Public Affairs Manager, Robert Larocca explained his perspective on this region.”The Western Suburb’s provides people with an excellent opportunity to be  close to the CBD and with prices below their peak, buyers are finding it more affordable to purchase in this region. Compared to two years ago, the Western Suburb’s are now much more affordable,” he said.

There are a number of reasons to be confident about prospects for the market in 2013 as consumer confidence levels are above this time last year, the clearance rate is higher than this time last year and overall prices remain stable. Real Estate Institute of Victoria’s Policy and Public Affairs Manager, Robert Larocca is predicting that 2013 will be an improved one with more consumer confidence in the marketplace. “Clearance rates are a strong indicator of market sentiment and the overall rate reached the average of 61 per cent in 2012 versus 59 per cent in 2011. The fact that clearance rates during spring lifted five to ten basis points higher is also a sign of continued improvement. The health of the market in 2013 will be dictated by confidence,” he explained.

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