Kiki’s Monthly Market Update – April 2018
| As we close out April, there is little change in the property market with it continuing to show sluggish signs moving into autumn. We are seeing soft numbers for properties sold and auction clearance rates in Sydney, and buyer numbers are still low. This is starting to show up in property prices with a recent article from Domain showing that house prices in Sydney have dropped off 2.6% (and units by 0.5%) in the first quarter of 2018. However I have found that, whilst buyer numbers are down, they are tending to be serious buyers making it possible to successfully negotiate and transact properties despite the tougher market.
Turning to the most recent economic information put out by the analysts, and there is continued talk of a cooling housing market in Australia’s capital cities, but there is some growth in regional areas. Inflation remains low although there is an expectation that this might start inching upwards soon, and there is similar sentiment around wage growth which has been low for a while. If both start moving up, then this is considered a potential trigger for the cash rate to be increased by the Reserve Bank. Consumer sentiment has dropped in the past month, with international trade policy moves and equity market volatility considered key reasons. |
| This newsletter contains general information only as of 27th April 2018. 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. |
