Monday, September 15, 2008

Market update

Market update Having experienced a boom like market of growth for 7 years, the change to a ‘standard’ yet vastly unknown market has and continues to cause anxiety amongst many buyers and sellers.
Knowledge is everything – an overview of what is happening in the current market along with the forecast for the coming months, will help build your understanding of transacting property in the here and now.
Over the past 12 months we’ve seen Interest rates continue to climb, placing pressure on all home owners. Last week the Reserve Bank handed down a quarter of a percent interest rate cut with further rate cuts predicted – finally a little relief!
For the astute buyer, now is the time to purchase property. The banks have already adjusted down their fixed rates and the variable loans are set to follow, although these will take time to flow through.
With the warm weather beginning, both the Coastal & Hills regions will see a growth of activity with more buyers out and about.
The next four months provides Vendors with 10 good weeks of selling. Once the AFL finals are out of the way, the selling season begins from October well into Spring with late December being fairly quiet due to the festive season.
So with this in mind… Now is the time!
Whether you’re looking to buy or sell real estate, the beginning of Spring coupled with the downward turn of interest rates is providing a great opportunity for transacting property.
To discuss your real estate needs and what we can do for you in this market, call your local Toop&Toop office today.

Mandy Wurth, General Manager - Sales <>

© Toop Real Estate Group

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