Well, it’s mid winter, they say inflation is rising, we’re not really expecting the Reserve Bank to lower interest rates next month… good grief! Is it ALL doom and gloom?
Not necessarily, after the REIV’s release of their monthly research bulletin for July. Auction clearance rates were up, boasting a very healthy 80% clearance result which is great news for home owners opting to sell by auction right now. With less homes on the market in the winter months, it can be a good time to get lots of buyers through your open inspections.
Rental vacancy rates logged in at 2.3% for July, which isn’t as low as some states if you’re looking for somewhere to rent in Victoria , and not bad news for landlords either.
The Residential Market Index (RMX) did drop 3.2% but that is not surprising for the mid winter period.
So, with that real estate wrap it’s back to the footy… we hope your team has a win this weekend!
Chat to us about how a property advocate can help you sell or buy in the current market with confidence. Investment buyers can receive invaluable support and guidance through our Buyers Advocacy Service, and for landlords who are selling, our Vendor Advocacy Service helps vendors achieve outstanding results.
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