2010 is bringing with it a comeback in the real estate market. Suburbs that saw the greatest drop in value over the past couple of years are really starting to come back. Overall, NSW’s property market is about to enter a year of solid growth.

In 2009, the First Home Buyer’s grant stimulated the property sector throughout the global financial crisis, encouraging many first home buyers to get into the market and take advantage of the increased incentives.

Harcourts New South Wales, CEO, Chris Stephandellis said this first home owner’s rush produced a downside.

“Due to the increased competition in the market place, there was a spike in the market, with many sales exceeding asking prices particularly in the Bathurst area,” he said.

“Now, there is a decreased amount of first home buyers in the market because of the Grant reduction in December, and the looming threat of a fourth interest rate hike when…