Interest rates and housing impact on selling your property in 2024
- Over the past couple of years, Melbourne's housing market has grappled with numerous challenges, including the economic aftermath of the COVID-19 pandemic, extended lockdowns, 13 interest rate increases, historically low consumer confidence, media-driven negativity, tightened lending restrictions, and a surge of new residents due to the recently opened international borders.
- I've observed a shift in on-the-ground sentiment, with strategic investors and homebuyers acknowledging that inflation likely reached its peak and anticipating that interest rates will likely plateau in the next few months. Consequently, they are proceeding with their property decisions. Despite increased buyer activity, there's currently a scarcity of high-quality properties on the market.
- Looking forward, I anticipate continued but more moderate price growth in the coming year, driven by sustained high demand and limited housing stock.
If you're looking to sell or buy, feel free to reach out at 0480101966, and I'll guide you through the local market intricacies.
