Real Estate Market Insights: Favourable Conditions for Sellers
- In February, home prices rose significantly because of high demand from people looking to buy houses. Despite an increase in the number of available homes this year, the market has remained strong as demand continues to outpace supply. This trend is driven by factors such as a growing population, limited rental options, and the possibility of upcoming reductions in interest rates.
- Experts anticipate that interest rates may decrease in the latter half of 2024, making it an opportune time for homeowners to consider selling. Recent data released on Wednesday indicates a rise in prices, and while the annual inflation rate is slightly above the Reserve Bank's target range of 2-3%, there is speculation that interest rates have reached a peak, with the next move likely to be a reduction. Looking forward, the positive factors supporting housing demand, coupled with a slowdown in the construction of new homes, are expected to counterbalance concerns about affordability and a slowing economy.
- This suggests ongoing support for property prices, making the current period favourable for those thinking of selling.
- Call or text me 0480101966 and 𝗜 𝘄𝗶𝗹𝗹 𝗵𝗲𝗹𝗽 𝘆𝗼𝘂 𝘂𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱 𝘁𝗵𝗲 𝗹𝗼𝗰𝗮𝗹 𝗺𝗮𝗿𝗸𝗲𝘁, 𝗿𝗶𝗴𝗵𝘁 𝘁𝗶𝗺𝗲 𝘁𝗼 𝘀𝗲𝗹𝗹 𝗮𝗻𝗱 𝗲𝘃𝗲𝗿𝘆𝘁𝗵𝗶𝗻𝗴 𝗲𝗹𝘀𝗲 𝘆𝗼𝘂 𝘄𝗮𝗻𝘁 𝘁𝗼 𝗸𝗻𝗼𝘄 𝗮𝗯𝗼𝘂𝘁 𝘁𝗵𝗲 𝘃𝗮𝗹𝘂𝗲 𝗼𝗳 𝘆𝗼𝘂𝗿 𝗵𝗼𝗺𝗲.
𝗦𝗮𝗺'𝘀 𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗕𝘂𝘇𝘇
Sam Weerawarna | 0480 101 966
Director / Licensed Estate Agent
