Kiki’s Monthly Market Update – December 2017
| As we close out yet another year, we have noticed an increase in buyers since my last market update, with more activity at our open homes. Admittedly, it is a tricky time of year to conclude whether this is a genuine shift in buyer activity in the market or due to decreasing levels of property available to purchase as things wind down. However, we are receiving lots of enquiry for buyers seeking properties to buy in the new year which is a positive sign for things to come in 2018. Looking at the recent sales cycle of properties in our area, we are noticing that price guides for auction properties are very sensitive with a lot of other agents making price adjustments to them mid campaign, although still eventually selling the property. We have also noticed that sale prices are typically now much closer to the price guide; whereas in a booming market there often tends to be a much larger gap.
Turning to the most recent economic information put out by the analysts, it looks like we are moving into a new year with a fair degree of positivity. The Federal Reserve in the US has continued its rate raising cycle and the expectation is that this will continue consistently in 2018. This is considered a good sign for the global economy, and is likely to put deflationary pressure on the Australian dollar which is expected to help our economy. The Reserve Bank continues to reiterate its preference for a weaker dollar, which is a key reason that analysts are expecting the cash rate here in Australia to stay where it is throughout 2018. This is also supported by the belief that the property price surges in Sydney and Melbourne are contained. |
| This newsletter contains general information only as of 19th December 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. |
