Kiki’s Monthly Market Update – April 2017
| April can be a disjointed month in real estate due to school and public holidays but this year we have seen good numbers through all opens throughout the month; although we are noticing more owner occupiers in the market place than investors as recent investor lending has tightened up considerably. Interestingly, despite the consistent strength of the market, I have been noticing more properties passing in as of late. I do not think this is due to buyers leaving the market or an increased number of properties hitting the market; rather it is likely due to vendors’ inflated expectations of what their properties are worth given the extensive growth across the property market.
Turning to the most recent economic information put out by the analysts and there was a surprising jump in employment, including full time employment, with the number of people in the job market also increasing. This will be encouraging news for the RBA who again opted to keep the cash rate on hold noting that tightening lending practices are helping to address risks associated with high household debt levels. Despite these lending changes and affordability issues, NAB reports that housing market sentiment is at a three year high, particularly in NSW and Victoria where property price increases have been most significant in the last couple of years. |
| This newsletter contains general information only as of 27 April 2017. Before making any decision or taking any action that may affect your finances, you should consult a qualified professional adviser. Kiki Bermudez or Mint360property shall not be responsible for any loss whatsoever sustained by any person who relies on the information in this newsletter. To unsubscribe click here |
