As is so often the case, the latest from the real estate market is a story with two sides.
On the one hand, prices have slumped more than 7 per cent on the same quarter last year. That would indicate a market under pressure, you could argue. But countering that are
the comments from local agents suggesting that spring has brought a new level of interest to the local scene.
It's a common enough phenomenon. After a winter season where people, buyers included, tend to hibernate, suddenly the warmer weather brings people out from their holes, keen to explore opportunities and maybe spend some money. Property is just one area that benefits.
Cynics might think it is not unusual for agents to try to talk up a market, but we must also look at sales data. The number of properties sold has increased to 50 a month from the 30 or so when the market was languishing in the doldrums. We must accept that some will be lender-driven, but the majority are not.
A buoyant property market can be seen as a reason to be confident - people are willing to invest in and commit to the area because they see opportunities, genuine opportunities, in the River City. There are new business opportunities presenting themselves through high-speed broadband and the jobs created as the infrastructure is deployed. But that is just one high-profile project, and there are city businesses succeeding in other areas.
