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Buyers Keen to Purchase Established Dwellings

By Kevin Kelly

With so many different types of real estate in Eaton available, it can often be difficult for buyers to decide which they should be looking for.

However, the latest figures from the Australian Bureau of Statistics (ABS) show that established dwellings have found favour with buyers throughout the country – and Eaton is perhaps no exception.

The data relates to sales completed in October, showing a 0.6 per cent rise in the number of established dwellings being purchased in the month when likened to September.

This compares to a 0.1 per cent decline in the purchase of established properties over the same period.

Across the property market as a whole, the ABS revealed a 1.8 per cent rise in the value of dwelling commitments, showing that positivity is returning.

The Real Estate Institute of Australia (REIA) believes that the low interest rate environment is part of the reason for the trend, while that fact that industry experts are showing more optimism is also having a positive effect.

REIA president Peter Bushby also noted that although first home buyers are slowly entering the market, more effort needs to be made to encourage others to make their first steps onto the property ladder.

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