Housing market 'is beginning to improve'

The Australian property market has been very subdued recently, as people are reluctant to take out a mortgage at a time when the economy is so volatile.

House sellers in most parts of Australia have seen the value of their buildings shrink in the last few years and this has resulted in a stalling sector.

However, business research and forecasting specialist BIS Shrapnel has suggested that things are finally starting to look up.

The organisation stated that market conditions will improve in the near future, as buyers start to rear their heads again.

Not all property owners will find it easy to sell their houses, though. The firm asserted that homeowners in New South Wales and resource-rich parts of Queensland, the Northern Territory and Western Australia will benefit from increased demand for accommodation.

Meanwhile, people looking to sell up in non-mining regions are likely to find the going much tougher, as there is still an excess supply of properties in a lot of districts.

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