1 Mar 2015 By: Bruce Warburton 0 Comment
The Reserve Bank’s recent decision to cut rates by another 0.25 per cent was great news for the property market where market performance is often closely aligned with movement in interest rates.
The cut has given extra confidence to buyers and spurred them to act. Already we’re seeing an increase in crowd sizes at auctions and open for inspections.
Sellers of course are the key beneficiaries of an increase in buyer numbers because more buyers means greater competition.
Melbourne property prices rose 2.7 per cent in January according to RP Data and housing values have increased by 50 per cent since January 2009.
Investors, families, upgraders and downsizers are all in the market to purchase and we’ve recently achieved some outstanding results on behalf of local clients.
For anyone who’s been sitting on the sidelines, it’s time to take advantage of the momentum in the market.
Contact us today for a no-obligation chat about the potential value of your property in the current market.