Residential Housing Market Expected To Pick Up This Spring

Everybody loves to see the first signs of spring, and along with the splendid season comes a great time for home buyers to start looking at the real estate market.

Recent research from RP Data has confirmed that the indicators are looking good for the residential property market this coming spring, which is welcome news for the industry and buyers alike.

RP data senior research analyst Cameron Kusher said the signs are positive and the market appears to be in a much stronger position than last year.

Traditionally, the residential property market starts to bloom in spring with more properties listed and an increase in the number of auctions taking place, he said.

"Spring also sees an improvement in the number of property sales, especially following winter, which is usually a slow period for the housing market," Kusher said.

Property pundits did not expect the housing market to retain its drive throughout the entire spring season in the same way it has previously though, he said.

Last spring was disappointing for many home buyers with the number of house sales down by three per cent in most of the capital cities, which was lower than in 2010. During this time last year, property numbers rose and house values fell in each capital city, he said.