If you’ve been searching for a home to buy in recent months you may have been frustrated by the lack of stock.
Home owners probably don’t need to be told that market uncertainty has been established as the leading cause of low sales volumes. Naturally, when the future looks uncertain and our financial security is threatened, we hunker down and play it safe until we can see some positivity on the horizon.
And that distant golden glow is beginning to glimmer as the effect of more interest rate confidence combined with continued growth in property values shows sellers returning to the market and stocks beginning to rise once more.
An unseasonal boom during July and August saw sales volumes in Sydney and Melbourne increase, with most capital cities sitting at around 10% of the preceding ten year average. In addition, the RBA’s decision this week to leave interest rates on hold for the third consecutive month is set to restore consumer confidence and take the pressure off mortgage holders.
That’s great news for buyers desperately seeking homes, and sows seeds of hope for a flourishing property market as we head into spring.
Whether you’re buying, selling or both this spring, see how Chamberlain Property Advocates can help you get the best possible outcome with the least amount of stress.
If you’re planning to sell, talk to us about our Vendor Advocacy Service helping sellers achieve outstanding results.
To book a free 20-minute consultation, simply click here and choose a time convenient to you.
