Thursday, August 5, 2010
Interest Rates on Hold - Post-Election Preview
The reserve bank this week has decided to keep interest rates on hold for the 3rd month in a row. The reserve bank has raised rates 6 times since October last year and - according to leading economists - has restored rates to “average levels.” This is a positive outcome for both buyers and sellers with some stability returning to the real estate market.
The interest rate news only adds fuel to our post-election prediction that there will be a rush of both buyers and sellers returning to the market after 21 August. Traditionally, federal elections cause a stall in the residential market as both buyers and sellers await the outcome. This year, we have been fortunate to have a relatively short campaign period, as we know both buyers and sellers are ready to return to life as usual.
This is a positive outcome for buyers who are trying to move now and suffering through the critically low number of homes and apartments currently on the market. We predict a flurry of new properties for sale, which in turn will attract even more buyers back to the property market.
If you have been thinking of buying or selling, it is a fantastic time to join or re-join the market. With spring just around the corner and the election less than 3 weeks away, don’t miss out on this opportunity. Give us a call today to discuss further 02 9968 1700.
All the best,
Joshua Wygoda & Emily Jessee
0414 666 190 / 0404 721 546
www.century21mosman.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment