The market has seen some real positive signs of improving over the past 30 days. This renewed confidence has been brought about through the Coalition winning the election, as we won’t see the radical property changes come into effect that Labour Party were suggesting.
This has given buyers and in particular investors confidence in this sector. The royal commission is in our review mirror and to help with peoples ability to improve their serviceability APRA is reducing the interest rate stretch test on people who want to get a loan down from 7%.
This mixed with a reduction in the cash rate to 1.25% are all good things to reinvigorate a less buoyant market.
I must caveat that there are still some head winds in our market in the eastern suburbs. Though there is a lot to help re stimulate things.
Over the last 30 days our auction success rate is up at 85%, we have seen an average of 504 buyers inspect our 28 opens per week. Email inquiry is up 17% for the same time last month.
Ray White Double Bay is proud to announce that Loan Market Double Bay has been named a finalist in the Australian Broking Awards 2024: Franchise Office of the Year, recognising their standing among the top broking professionals and businesses in Australia. The Australian Broking Awards is the pinnacle event of … Read more
Ray White Double Bay is excited to announce that the Atlas Display Suite is now open! Atlas is a private enclave of two, three and four-bedroom residences in the tranquil delights of harbourside Rose Bay. The perfect intersection between city and sea. Atlas is nestled between Bellevue Hill and Vaucluse, … Read more