Kiki’s Monthly Market Update – October 2017
| We have noticed a shift in the property market for the month of October where the market seems sensitive as prices have finally levelled off and even come back slightly for certain properties. In our primary areas of service we have noticed that there is an above average supply of units on the market giving buyers more choice and therefore slightly diluting buyer competition. However, we do feel that premium properties are still selling well. For example, this past weekend at 9 Burton Street, Randwick we had a total of 6 buyers register for our Auction and sell for a fantastic price, well above the reserve price. It is important to remember that if you are planning on selling your property in the new year, now is the time to book in an appointment with us. We have already started meeting with clients and listing property for next year!
Turning to the most recent economic information put out by the analysts and the narrative remains unchanged, with low inflation and low wages still the topic of conversation, meaning most predictions are that the cash rate will stay put for the foreseeable future. There are positive signs though with the RBA confident growth will pick up which is somewhat supported by continuing strength in the employment market. |
| This newsletter contains general information only as of 31st October 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. |
