McGrathmageddon: “Exceptional” property market “resurgent”

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This is how one McGrathmageddon realtor summed up the property market this week:

2019 looks more promising than many would have thought. November and December were very tough but in January things really picked up. Buyer enquiry has been exceptional. The negative media reports preaching that it’s a great time to purchase must be prompting buyer activity.

We sold more properties this January than I can remember in over five years. It’s usually a sleepy month but not this year. We had 71 groups inspect one of our current listings! This is more than I have ever seen to any open house.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.