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Photo of 2/49-51 Macquarie Street Moana, which is currently for sale.
An upcoming federal election and continued interest rates cuts are tipped to renew market confidence as most real estate agents and home sellers come off the back of a year they would rather forget.
Real Estate Institute of South Australia chief executive officer Greg Troughton said while this year had been a challenge, he was hopeful that the market would pick up in the new year as buyer confidence increased.
“As the market has been quite flat over the past two years, now that interest rates have fallen, there may be some good movement in early 2013,” he said. “I’ve got all of my fingers crossed that 2013 will (bring) not only growth of sales but some capital growth in the marketplace as well.”
Mr Troughton said Australia’s minority government and America’s uncertain financial situation was affecting the local market.
“When all of that is sorted out, I think the economy will start kicking on quite nicely and the growth in housing will kick-off again,” he said.
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