Rate Cut - Good News For Gold Coast Real Estate
Good news in real estate, the Reserve Bank has today cut rates .25%Interest Rate Cut - A Market Changing Event
The last time the RBA changed to a downward direction on rates was February 2001, start of the 2002 -2003 "good times" in Gold Coast real estate. At the end of 2003, there were 2 rate rises in November and December, which brought about a substantial change in sentiment and cooled the market. Stating the obvious, today's cut of 0.25% and the further falls in rates predicted signal a new positive for the Gold Coast real estate market.
Those who have been reading previous newsletters know that there is built up demand here at the moment and with a little stimulation, in the form of this rate cut, demand will return to the local property sector. Anecdotally, our office in the last 2 weeks has experienced a significant increase of 2nd and 3rd inspections, offers, contracts and even multiple offers on properties. We are also seeing first home buyers coming into the market.
Those who are waiting for the market to fall further, sellers to get a little keener or for things to get worse may have missed their chance. If you are trying to pick the absolute bottom of the market, it may have passed you by, but it is still not to late to make an astute purchase.
Property Management Special
50% off your next letting fee. For more information contact our Senior Property Manager, Victoria Lawrence and mention this newsletter or click here
The last time the RBA changed to a downward direction on rates was February 2001, start of the 2002 -2003 "good times" in Gold Coast real estate. At the end of 2003, there were 2 rate rises in November and December, which brought about a substantial change in sentiment and cooled the market. Stating the obvious, today's cut of 0.25% and the further falls in rates predicted signal a new positive for the Gold Coast real estate market.
Those who have been reading previous newsletters know that there is built up demand here at the moment and with a little stimulation, in the form of this rate cut, demand will return to the local property sector. Anecdotally, our office in the last 2 weeks has experienced a significant increase of 2nd and 3rd inspections, offers, contracts and even multiple offers on properties. We are also seeing first home buyers coming into the market.
Those who are waiting for the market to fall further, sellers to get a little keener or for things to get worse may have missed their chance. If you are trying to pick the absolute bottom of the market, it may have passed you by, but it is still not to late to make an astute purchase.
Property Management Special
50% off your next letting fee. For more information contact our Senior Property Manager, Victoria Lawrence and mention this newsletter or click here