09/07/2023
Well, wasn't this a relief last Tuesday when the RBA decided to hold the cash rate at 4.10 per cent. 🏦📈💰
The decision to hold interest rates will be a relief for mortgage holders, likely renewing buyer confidence ahead of what is expected to be a busy spring selling season. Although another rate rise is possible, the decision to hold rates this month suggests we may be nearing the end of the cycle of increases.
With falling Days on Market and solid auction clearance results, it's evident that buyers are actively engaged. By keeping interest rates unchanged, it ensures that buyer demand continues.
Listings have remained low over winter, creating fierce competition for properties, but our network of offices has seen an increase in the number of appraisal requests, which indicates a busier spring market is around the corner.
The current lack of competition and the strong results we’ve seen in recent weeks further solidifies that winter is a positive time to list.