Property Council bulletin cautions decline in residential sales likely
The Property Council June 2nd bulletin to members quoted the Westpac Melbourne Institute Index of Consumer Sentiment survey falling 5.1% in April followed by a further fall of 7% in May total of 12.1% in two months. The index now stands at 97.6...
The Property Council June 2nd bulletin to members quoted the Westpac Melbourne Institute Index of Consumer Sentiment survey falling 5.1% in April followed by a further fall of 7% in May total of 12.1% in two months. The index now stands at 97.6 the lowest confidence since August 2012 (less than 100 is negative confidence). RP Datas research analyst Cameron Kusher predicts declining home sales in the months ahead.
Looking forward however, a separate RP Data survey revealed that 80% of people think now is a good time to buy but when asked whether now is a good time to sell, just 37% said yes meaning people will be delay selling to get a better price later.
