Okay, some good news - the Federal Election is over, and the RBA announced yet another reduction in interest rates. So, what does this mean for the property market? Increased confidence. As the effect of the rate drops starts to trickle through, it will give buyers greater borrowing capacity & also provide some relief for mortgage holders. And this was evident in that our average sale price increased on a month-on-month comparison, from May 24 (when rates were going up) to May 25 (as they now start to come down).
Moreover, as you can see in our May Stats, we cleared 64% of sales – this means that the Sydney property market is in a good state. And if rates continue to drop, we anticipate further price growth.
Furthermore, we are now taking bookings for June & July, so if you do have any auctions coming up, we'd love to partner with you. Make sure you get your properties booked in now to secure your preferred date, time & venue.
Wether you’re about to book an auction or you just want to find out more information on how auctioning your property is beneficial for you, get in touch and we can help you secure the best possible price for your prized asset.