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Rates Held Static for Election Lead up and VFP's Phones Ring Hot

Tuesday, 3rd August 2010

Principal of Vitale Fine Properties David Vitale has noticed a significant increase in buyer enquiry. He said: “I was a little worried for a short while as there was a period of three to four weeks where I would go without an incoming call for hours and hours. I have definitely noticed a significant lift in the number of calls from prospective buyers about our listings over the past two weeks. I feel buyer enquiry is back to a more normal level now.”

He went on to say, “I believe a number of factors have contributed to this. Firstly, people are beginning to realise that a depressed property market can’t continue forever, making it a great time to buy property. Secondly, the announcement of the federal election has taken some of the uncertainly away from the nation’s political landscape and thirdly, the announcement of better than expected inflation figures followed by today’s announcement by the RBA that base rates will ‘stay put’ at 4.5% have all helped.

As a result of the increased activity, David said there are now several offers that have been made on their listings with some sellers receiving multiple offers from unrelated parties. According to David, VFP consumated a conditional sale today and have a number of negotiations between buyers and sellers currently in-play.