Ladies and gentlemen; we have lift off! For the first time since The Speculator started tracking the market, there are signs that the local housing market is alive.
Well, that’s not strictly true. The houses that have been hardest to sell over the last 18-odd months have been those in the more expensive parts of Devonport. The zone between William Bond, Lake Rd and Calliope Rd north side (roughly speaking), which has a different demographic and property profile has been chugging along quite nicely throughout the entire recession, although there are obviously a lot less properties in this area than in the rest of Devonport.
What has changed in May is that the other areas have finally taken off; check out our graphs below to get an idea. A reasonable number of properties are selling much more quickly at reasonable returns. Is it a trend? The June data is awaited with interest.