Andrew Carswell and Vikki Campion | The Daily Telegraph | September 04, 2010
http://www.news.com.au/money/property/homebuyers-have-spring-in-their-step/story-e6frfmd0-1225914058485#ixzz0yiHznQX8

More than 100,000 Sydneysiders are waking from winter hibernation ready for a spring home-buying spree that experts predict will jump-start Sydney's property market.

Real estate agencies are anticipating a record flood of inquiries in coming weeks.

They predicted buyers would unleash in October, a late spring bloom brought about by a recent positive turnaround in economic and market sentiment, albeit delayed by the continued stalemate in federal parliament.

The build-up of buyers is like a coiled spring, Sam White from Ray White told The Daily Telegraph.

He said agents were anticipating more than 100,000 Sydneysiders would go head-to-head for limited property in the next three months, with roughly 24,000 homes expected to change hands.

"Spring will see the usual spring rush, but perhaps even more so because people are getting much more confident about the market," he said.

Last spring brought the biggest quarter of sales since 2002, helped substantially by the mad scramble from first-homebuyers making the most of an increase in the Federal Government's First Home Buyer's Grant.

With a distinct lack of first-homebuyers this spring, agents believe their place will be taken by investors and families wishing to upgrade.

Laing+Simmons general manager Leanne Pilkington said a shortage of available property would ensure Sydney house prices rose.

"Underlying demand remains strong and the critical supply shortage will continue to buoy prices across all grades of property," she said.

"The spotlight this spring may well be on more affordable suburbs in Sydney's west and southwest."

McGrath chief executive John McGrath said spring would also be a "strong selling market" with more listings and growing buyer confidence courtesy of an improving economy.

With luck, recently engaged couple Alana Rose Bognar and Nicholas Horder will be off the house-hunting merry-go-round just as the market hits its stride.

They have their hearts set on a postcard-perfect Paddington cottage that goes up for auction at 9.45am today.

Having searched for the past four months they have noticed an increase in the number of properties being listed. "Winter has been pretty quiet but we have seen a bit more come into the market in the past month," Ms Rose Bognar said.