Kiki’s Monthly Market Update – January 2017

I hope you had a restful and enjoyable holiday season, and have had a great start to 2017. I certainly enjoyed my break (as you can see from my photos from New Caledonia below) and am now getting my year started with several properties going live. As expected, auction numbers have been low to start the year, but this is usually the case until after Australia Day when the market gets back into full swing. General expectations in the industry are that things should pick up from where they left off last year with solid buyer activity driving an active but not overcharged market.

As usual, the Reserve Bank took a break from its monthly monetary policy meeting in January; but turning to the most recent economic information put out by the analysts and the general consensus is that the RBA is likely to leave the cash rate where it is for the foreseeable future unless its hand is forced by deteriorating economic conditions. Higher commodity prices helped support the economy late last year, resulting in a rare monthly budget surplus, and the direction they move this year will be a key driver for the Australian economy in 2017.

As always, regardless of what happens in the property market, I hope you have a great year and I look forward to continuing my relationship with you whether your property goals are to move house, buy or sell an investment property or simply give your own home an update.